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IBEDC to invest $400 million in metering programme, network infrastructure
  • Post by Admin on sunday, March 05, 2015

The Ibadan Electricity Distribution Company (IBEDC) said it has attracted $400 million investment from Trans Sahara Consortium to fund its planned installation of smart metering programme, infrastructure upgrade within the distribution area of the company, and put a stop to energy theft which is a huge revenue drain in the sector.

Speaking during the signing of the memorandum of understanding, MoU, the Chairman of IBEDC, Mr. Tunde Ayeni, said that the agreement will lead to an enormous improvement of the billing process as it would become more efficient, just as the gains from the investment are huge for IBEDC and ultimately the customers.

The new metering system is expected to eliminate mistrust and distrust between IBEDC and consumers.

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