AEDC raises revenue to N5.9bn as losses drop to 40%

The Abuja Electricity Distribution Company (AEDC) says it improved its revenue collection to N5.9 billion in March 2018 while its Aggregate Technical, Commercial and Collection (ATC&C) losses dropped to less than 40 per cent.

The Managing Director of Copperbelt Energy Corporation (CEC) Africa, the core investor in AEDC, Emmanuel Katepa, in an exclusive interview in Abuja, said “We have had a fairly interesting year but there have been some challenges which are both internal and external.

“As at last year, our monthly collection was N4.5 billion but that has greatly improved and as at last month, we were at N5.99 billion in collection.

“That was due to the improvements in so many factors. Our ATC&C loss level has been coming down. Like recently, we were below 40 per cent on it. These are solid operational improvements,” Katepa stated.

Highlighting some key challenges of investors of the Distribution Company (DisCo), he noted that bulk energy tariff was still indexed in dollars as such the naira component of their payment to the Nigeria Bulk Electricity Trading Plc (NBET) kept rising.

The firm said it installed 120,000 meters in 2017 and is doing another 30,000 units. “Prior to the Meter Assets Providers (MAP) Regulation, we had engaged a PWC firm on contract for 400,000 Small Power Users (SPU) meter installation within the next two years.