The management of Ibadan Electricity Distribution Company (IBEDC) has said its in dire need of funds to boost its operations just as it called for speedy settlement of N5.9 billion owed by government agencies and the military to date, Leadership reports.
Mr John Donnachie, the managing director of IBEDC stated this yesterday against the back drop of the proposed increase of electricity tariffs expected to take off on February 1.
He said that though, implementing the new tariff will be challenging, the review of the electricity tariff was essential, adding that the current tariff was not cost reflective. He also said that the company would abolish fixed charges under the new tariff regime introduced recently by the NERC.
Source: Energy Mix Report
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