Unauthorized Meter Use by Electricity Consumers Causing IBEDC an Average Loss of N130 Million Monthly

Unauthorized meter use by some electricity consumers in Ibadan is causing the Ibadan Electricity Distribution Company (IBEDC) an average loss of N130 million monthly.

This was disclosed by the commission after it lamented that illegal meters of about 15,000 existing in its network across the state have caused heavy revenue loss.

Investors King understands that these unauthorized meters used by some residents of the state are reported to consume energy, meanwhile, the IBEDC does not generate any revenue from it.

Commenting on the issue, the IBEDC regional head for Osun. Engr. Oluwatoyin Akinyosoye while speaking at a town hall stakeholder meeting in Osogbo, stated that in a bid to curb this menace, the company has stopped the installation of the illegal meters which use cards to load electricity since 2013.

In his words,

“To us as a company, this is a huge loss in our revenue because these illicit meters consume energy on our network, but the revenue is not coming to us. If we can curb these illicit meters, we know that we can plunge back the revenue to our purse to serve our customers better. These illicit meters were gotten through the backdoor, unknown to us till now. Most of these meters are the ones that you have to use a card for before you can load.

“As a company, we stop the installation of these types of meters since 2013. So, any other one installed between 2013 till now are illicit meters”.

Mr. Akinyosoye further urged those still using the unauthorized meter to report at the company’s office to address the issue, warning that those who fail to do so, would have their supply disconnected and be prosecuted.

It is however interesting to note that the Ibadan Electricity Distribution Company (IBEDC) is the largest electricity distribution company in Nigeria. Since it began operations in 2013, it has delivered electricity to millions of Nigerians across several states which include Oyo, Ogun, Osun, Kwara, and parts of Niger, Ekiti, and Kogi.