By Ediri Ejoh
IKEJA Electric Plc, yesterday said inflation, foreign exchange scarcity among other challenges have continued to threaten its operations.
This was contained in its sustainability report titled, “Building A Customer-Centric Business-Our Journey to Sustainability”.
Speaking on the report, the chief executive officer, Mr. Anthony Youdeowei said “conditions such as inflation and Foreign Exchange (forex ) fluctuations still pose a liquidity risk to the organisation. Only when all of these scenarios are considered will a robust framework be in place that will benefit the end user – our customers.
“Another challenge confronting our operations involves, energy theft and meter bypass. The network is plagued with free riders and illegal connections. We also acknowledge that enforcing disconnection order was less than adequate, often being subverted by illegal reconnections.
Illegal reconnections
“To deal with these issues, we empowered the Vigilance, Strategy and Loss Reduction Unit of the Commercial department to monitor, apprehend and prosecute cases of energy theft and illegal connections and reconnections.”
He noted that, “as a company, we have heard the clamour regarding excessive and inaccurate estimated billing. As a responsible company, we have listened, developed and will start the implementation of the new estimated billing methodology that should provide for a more accurate customer bill in line with statutory regulations.
“The new methodology factors in new information provided by the customer enumeration and mapping initiative and also introduce the component of metered trade points (transformers and feeders etc.) to provide for a more scientific solution.”
The post Inflation, forex threatening our operation- Ikeja Electric appeared first on Vanguard News.
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