NERC approves N215 billion for Ikeja and Eko DisCo improve

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The Nigerian Electricity Regulatory Commission (NERC) introduced it has authorised the sum of N121.92 billion for Ikeja Electric Plc infrastructure improve for the following 5 years and likewise N93.76 billion for Eko Electricity Distribution Company (EKEDC) infrastructure upgrades inside the identical interval.

The NERC disclosed this in its Performance Improvement Plan (PIP) and Extraordinary Tariff Review Application which was launched on Monday and signed by  NERC’s Chairman, Mr Sanusi Garba and Mr Dafe Akpeneye, Commissioner, Legal, Licensing and Compliance.

PIP and Capital Expenditure (CAPEX) programme is anticipated to take impact from July 1, 2021 to June 30, 2026.

The NERC stated the authorised upgrades would enhance the distribution of energy provide by the DisCos citing public listening to scrutiny in its PIP and Extraordinary tariff overview purposes in a bid to make sure accountability.

The authorised CAPEX for Ikeja Electric Plc can be N24.38 billion yearly from 2021 to 2026, whereas for Eko Electricity, it could be  N18.75 billion for a similar interval, totalling N93.76 billion.

The upgrades can be within the areas of current community capability, technological enhancements to scale back outages and acquisition of instruments to enhance community efficiency.

What you must know

Recall Nairametrics reported {that a} new Extraordinary Tariff Review Applications, 5-year Performance Improvement Plan (PIP) and Capital Expenditure, CAPEX, for the Electricity Distribution Companies (DisCos) was authorised by the NERC.

For the Abuja Electricity Distribution Company, AEDC, the corporate proposed to undertake quite a few interventions to enhance service supply to clients. Over the following 5 years, the proposed interventions will permit AEDC to attain substantial enchancment in service supply and enhance the variety of new clients from the present stage of 1,214,259 to three,450,695.

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