The chief executive officer of Benin Electricity Distribution Company (BEDC), Mrs. Funke Osibodu has said that electricity tariff increase is inevitable and Nigerians should expect an adjustment which will come at any time, Leadership reports.
The present tariff structure she argued is not sufficient to support commercial operations of distribution companies (Discos) and is therefore not sustainable. She said in an interview that the implementation of the Multi Year Tariff Order (MYTO) is key to promoting quality services and efficiency in the system.
Osibodu also ruled out immediate deployment of meters to all customers as distribution companies (Discos) are constrained financially to execute their metering plans. She said that various initiatives put in place by government to close the yawning meter gap have failed because they were not properly articulated and managed to ensure a fruitful outcome.
Osibodu also faulted the controversial eligible customer regulations being introduced by the ministry of power, adding that it is contrary to the agreement entered into before new investors agreed to buy the power assets. She also wondered how customers within the corporate category that have difficulty settling electricity bills charged at about N38, would elect to buy directly from generation companies (Gencos) at about N60.