BEDC Laments N11bn Monthly Invoice, Solicits Cooperation of Electricity Consumers to Stay Afloat

Adibe Emenyonu in Benin City

The Managing Director/Chief Executive Officer, Benin Electricity Distribution Company Plc, (BEDC), Deolu Ijose, yesterday appealed for the cooperation of electricity consumers in its franchise states to meet their demands as it gets invoice of about N11 billion monthly.

Ijose, who disclosed this while commemorating his assumption of office at the headquarters of the company in Benin City, Edo State, said the company was really keen on giving its best to its franchise states of Edo, Delta, Ekiti and Ondo respectively, saying its effectiveness was being hindered by acute funds due to energy theft.

He said: “The bottom line is that, we need funding, we need money to be able to put these infrastructure in place.

“What do I mean by money? You will say that is our responsibility to put all these things in place, but at the same time, we must collaborate with the citizens and plead with them also because BEDC is not a social service anymore, it is not NEPA anymore.”

According to him, “On monthly basis, BEDC must go out to buy energy from an institution we call NBET, Nigeria Bulk Electricity Limited.

 “That is where we buy energy and I get invoice every month to the tune of about N11 billion.

 “That is the bill I get every month and what do we collect? We practically collect may be 50 or 60 per cent of that.

 “So, you can imagine when you put your business in place, you buy a truck of cement from Dangote for a sum of N10,000 and of course after you sold it completely, you actually get back only N5,000.

   “So, there is no way, either you are going to pack up and go or you are going to get bankrupt.

    “So, that is why funding is important and is now for the customers to assist by settling their bills as at when due,

  “If we settle the debt, we will be able to pay for the energy that is purchased on monthly basis and get more, but when we do not get 50 or 60 per cent of what we deployed, honestly as an investor, I would not know how the business can continue. So, the citizens too can really assist the sector.”

    On whether BEDC plan to partner with Edo Government’s Ossiomo Power Project, Ijose said talks were already on the way, adding that the more the merrier.

  “There is nothing bad in partnering the state government. The more, the merrier. What we normally do, we don’t have the distribution license because it belongs to the Disco.

 “However, Disco can partner anybody towards a better service and that is where the state government, Ossiomo Project which is a baby of the state government falls in.

 “We are trying in negotiating with them towards partnering,” he said.

 He further assured that the company was collaborating with the key stakeholders in the industry like the Transmission Company of Nigeria (TCN), NDPHC, NEMSA, REA, NBET/MO, federal and state governments, Meter Manufacturers to better improve on their service delivery.

He said customers would soon witness the massive transformation of their services, including the deployment of meters across their franchise states areas.