Ikeja Electric reduces annual losses to 24.5 Percent

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Aggregate technical, commercial and collection losses of Ikeja Electric Plc reduced to 24.5 per cent last year from 31.3 per cent in 2018. The Chief Operating Officer, Ikeja Electric, Folake Soetan, disclosed this while giving highlights of the Disco’s performance.

He said the firm took a bold step towards improved sustainable power through bilateral agreements. Soetan said, “The year (2019) was phenomenal for us at Ikeja Electric. Despite the huge challenges, we thrived and flourished.

We tested new waters; learnt amazing lessons and set the pace in the Nigerian power industry. “We were able to reduce our ATC&C losses from 31.3 per cent to 24.5 per cent; introduced e-billing; started the experiment towards improved sustainable power through the bilateral initiative, and optimised our existing systems through innovations.”

She said the company was committed to providing access to affordable and reliable power supply in line with the Sustainable Development Goal 7 “as we pursue our vision of being the provider of choice where energy is consumed.”

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