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Monday, 18 August 2014 00:00

Eko Electricity Distribution Company Plc

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EKO ELECTRICITY DISTRIBUTION PLC

 

NEPA Close, Off Ahmadu Bello Way, Victoria Island, Lagos, Nigeria.

Eko Electricity Distribution Plc, or Eko Disco, located in Lagos state, serves Lagos: Nigeria’s commercial and financial hub, and the Agbara industrial region. 

Eko Disco franchise includes all the areas within the Lagos South Zone. Within the Zone, Eko Disco owns and maintains electrical installations and the distribution network, manages meter installations and servicing, billing, coordinates consumer credit services, and collects revenue from its base on Lagos Island, the very heart of the Lagos business district. 

Eko Disco is one of 11 distribution companies comprising the national distribution grid. The distribution grid is connected to the transmission grid, which is managed by a separate company, the Transmission Company of Nigeria (TCN) Plc. 

PRIVATIZATION

Eko Distribution Company was established as a public limited liability company on November 7th, 2005 and is managed by a Chief Executive Officer (CEO) who reports directly to the CEO, Power Holding Company of Nigeria (PHCN) Plc. In July 1, 2006, Eko Disco became a standalone company a step toward privatization. 

In 1999, the FGN began an aggressive restructuring of the power sector with several aims, including introduction of efficient, private sector standards and management principles, and methodology, leading to reliable power. 

In 2001, the FGN approved a National Electric Power Policy (NEPP), followed in 2005 by the Electric Power Sector Reform (EPSR) Act. EPSR Act provides the legal authority for the unbundling of Nigeria’s power utility as well as the establishment of an independent regulatory commission, the Nigerian Electricity Regulatory Commission (NERC), to guarantee open access and ensure efficiency throughout the industry. EPSRA also provides for a consumer assistance fund, development of a competitive market, and establishment of a Rural Electrification Agency and Fund (REA & REF) and the Nigeria Electricity Liability Management Company (NELMCO). 

The core investor sale option was adopted by the Bureau of Public Enterprise in the privatization of the eleven Distribution companies in Nigeria which include Eko Electricity Distribution Company. In this model, the Federal Government retained 40% while the Successor Company retained 60% in the franchise. 

 

Credit: The Bureau of Public Enterprise.

Read 3833 times Last modified on Wednesday, 12 November 2014 18:43

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