IBEDC Cries Out Over Electricity Equipment Vandalism, Runs At N4Billion Deficit Monthly

Ibadan Electricity Distribution Company (IBEDC) has disclosed that it captured 15,032 incessant cases of vandalization of distribution assets between January and July 2021. the Chief Operating Officer, IBEDC, Engr John Ayodele disclosed this while briefing journalists at its 2021 half-year press conference in Ibadan on Tuesday, adding that the company is running at a loss and experiencing a deficit of N4billion monthly.

Ayodele said the money paid by customers to the company also goes to Generating (GENCO) and Transmission companies operating in the sector as well.He maintained that IBEDC does not have the full power to reduce the tariff, stressing that stakeholders must unanimously agree to review power tariffs in the country.Speaking on the efforts of the company towards effective service delivery, he said the electricity distributing company has been investing heavily in the sector. He refuted the idea that privatization of the power sector is a failure, stressing that the electricity distributing company is making progress despite the challenges.He highlighted that the company has added 2,632 distribution substations to its network, rehabilitated 39 dilapidated substations, replaced two failed power stations and 381 distribution transformers, re-constructed six new 33KV and six new 11KV outgoing feeders, rehabilitated 22 high tensions and 52 low tension overhead lines.

He lamented the level of energy theft as very alarming making the company lose so much money on monthly basis.

Also Speaking, the Business Transformation & Strategy Officer, Ola Ayodeji said the company has made progress on Asset and Customer Enumeration; an exercise that has made it possible to correctly capture the active consumer base of the company and aided the Distribution Transformer (DT) metering project.

According to him, the company has ensured that 50percent of IBEDC DT meters are smartly metered, adding that metering would aid management and solve problems of accountability of energy.

He added that the company has been working on improving occupational and safety management systems and initiated e-billing which enables effective delivery of bills to post-paid customers via SMS and Email.

Speaking on the issue of an increase in tariff, Ayodeji said that the increasing energy cost is driven by the impact of worsening exchange rate on gas price, the inflation evident in the economy, the constraints on the national grid, and the frequent collapse of the grid.

Meanwhile, the COO, Engr Ayodele spoke on corruption amongst staff, paying compensation on infrastructure constructed or provided by communities, and estimated billing.

On compensation, the COO said many individuals and communities are not truthful about the real cost of the infrastructure provided and should have first consulted with the company to agree on the cost and structure of repayment hence the reason for non-compensation.

He said: “The management, however, promised to work on its response system to ensure a close interaction with communities.”

Reacting further to the allegation on corruption of staff, Ayodele said the company has constantly been sacking members of staff that have been found to be corrupt and even prosecuting them.

He advised the public not to keep quiet but report such incidences and urged all to deviate from the thinking that energy supply is a social service rather than an economic service.