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KEDCO Revamps, Slashes Losses In 6 Months

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<p><&excl;-- BEGIN THEIA POST SLIDER --><&sol;p>&NewLine;<&excl;-- WP QUADS Content Ad Plugin v&period; 2&period;0&period;95 -->&NewLine;<div class&equals;"quads-location quads-ad4" id&equals;"quads-ad4" style&equals;"float&colon;none&semi;margin&colon;0px&semi;">&NewLine;&NewLine;<&sol;div>&NewLine;&NewLine;<p>Kano Electricity Distribution Company &lpar;KEDCO&rpar; has recorded significant performance improvement and reduction in aggregate technical&comma; commercial&comma; and collection &lpar;ATC&amp&semi;C&rpar; losses since its acquisition by the new core investor – Future Energies Africa &lpar;FEA&rpar;&period;<&sol;p><div class&equals;"sjE9Fp8N" style&equals;"clear&colon;both&semi;float&colon;left&semi;width&colon;100&percnt;&semi;margin&colon;0 0 20px 0&semi;"><script async src&equals;"https&colon;&sol;&sol;pagead2&period;googlesyndication&period;com&sol;pagead&sol;js&sol;adsbygoogle&period;js"><&sol;script> &NewLine;<&excl;-- TV --> &NewLine;<ins class&equals;"adsbygoogle" &NewLine; style&equals;"display&colon;block" &NewLine; data-ad-client&equals;"ca-pub-4403533287178375" &NewLine; data-ad-slot&equals;"4399361195" &NewLine; data-ad-format&equals;"auto" &NewLine; data-full-width-responsive&equals;"true"><&sol;ins> &NewLine;<script> &NewLine; &lpar;adsbygoogle &equals; window&period;adsbygoogle &vert;&vert; &lbrack;&rsqb;&rpar;&period;push&lpar;&lbrace;&rcub;&rpar;&semi; &NewLine;<&sol;script><&sol;div>&NewLine;<p>KEDCO recorded 80&percnt; Billing Efficiency in June 2024 up from 75&percnt; in January 2024 and also reduced ATC&amp&semi;C by almost 20 percentage points to a record of 42&percnt;&period;<&sol;p><div class&equals;"nXfns6eU" style&equals;"clear&colon;both&semi;float&colon;left&semi;width&colon;100&percnt;&semi;margin&colon;0 0 20px 0&semi;"><script async src&equals;"https&colon;&sol;&sol;pagead2&period;googlesyndication&period;com&sol;pagead&sol;js&sol;adsbygoogle&period;js"><&sol;script> &NewLine;<&excl;-- TV --> &NewLine;<ins class&equals;"adsbygoogle" &NewLine; style&equals;"display&colon;block" &NewLine; data-ad-client&equals;"ca-pub-4403533287178375" &NewLine; data-ad-slot&equals;"4399361195" &NewLine; data-ad-format&equals;"auto" &NewLine; data-full-width-responsive&equals;"true"><&sol;ins> &NewLine;<script> &NewLine; &lpar;adsbygoogle &equals; window&period;adsbygoogle &vert;&vert; &lbrack;&rsqb;&rpar;&period;push&lpar;&lbrace;&rcub;&rpar;&semi; &NewLine;<&sol;script><&sol;div>&NewLine;<p>Recall that in November 2023&comma; Future Energies Africa &lpar;FEA&rpar; acquired the highest stake in KEDCO and have since embarked on reforms geared towards business turnaround and sustainable transformation of the Company&period; Currently&comma; about 52 feeders receive between 20 to 24 hours of supply &lpar;including 11 recently upgraded&rpar; through investments and improved service delivery&period;<&sol;p>&NewLine;<p>These achievements are not merely coincidental but conscious efforts by KEDCO’s Board and Management&comma; with ample support from the core investor&comma; Future Energies Africa through investment efforts and constant adoption of effective mechanisms to expeditiously address extant challenges towards making KEDCO financially self-sufficient&period;<&sol;p>&NewLine;<p>Prominent among the recent challenges overcome was the dispute with the Manufacturers Association of Nigeria &lpar;MAN&rpar;&comma; over the April 2024 supplementary tariff order which has now been resolved and KEDCO&comma; in its customer-centric spirit urged for a round-table reconciliation approach&comma; while reaffirming its continuous support for the prosperity of businesses and economic activities in the area&period;<&sol;p>&NewLine;<&excl;-- WP QUADS Content Ad Plugin v&period; 2&period;0&period;95 -->&NewLine;<div class&equals;"quads-location quads-ad1" id&equals;"quads-ad1" style&equals;"float&colon;none&semi;margin&colon;0px&semi;">&NewLine;&NewLine;<&sol;div>&NewLine;&NewLine;<&excl;-- WP QUADS Content Ad Plugin v&period; 2&period;0&period;95 -->&NewLine;<div class&equals;"quads-location quads-ad3" id&equals;"quads-ad3" style&equals;"float&colon;none&semi;margin&colon;0px&semi;">&NewLine;&NewLine;<&sol;div>&NewLine;<div class&equals;"g2tFlqVc" style&equals;"clear&colon;both&semi;float&colon;left&semi;width&colon;100&percnt;&semi;margin&colon;0 0 20px 0&semi;"><script async src&equals;"https&colon;&sol;&sol;pagead2&period;googlesyndication&period;com&sol;pagead&sol;js&sol;adsbygoogle&period;js"><&sol;script> &NewLine;<ins class&equals;"adsbygoogle" &NewLine; style&equals;"display&colon;block&semi; text-align&colon;center&semi;" &NewLine; data-ad-layout&equals;"in-article" &NewLine; data-ad-format&equals;"fluid" &NewLine; data-ad-client&equals;"ca-pub-4403533287178375" &NewLine; data-ad-slot&equals;"6550225277"><&sol;ins> &NewLine;<script> &NewLine; &lpar;adsbygoogle &equals; window&period;adsbygoogle &vert;&vert; &lbrack;&rsqb;&rpar;&period;push&lpar;&lbrace;&rcub;&rpar;&semi; &NewLine;<&sol;script><&sol;div>&NewLine;<p>KEDCO recently revamped top management with the addition of a new Chief Technical Officer &lpar;CTO&rpar; &&num;8211&semi; Engr&period; Kassim Burkullu&comma; who recently managed AEDC’s large network&semi; a new Chief Commercial Officer &lpar;CCO&rpar; &&num;8211&semi; Dr&period; Abubakar Jimeta&comma; a seasoned industry professional&semi; and two Special Directorates for Special Projects and Customer Solutions&comma; manned by veterans &&num;8211&semi; Engr&period; Inuwa Daneji and Engr&period; Shuaibu Adeiza&period;<&sol;p>&NewLine;<p>During this period&comma; the Company has invested over ₦1bn to deploy over 100 High Voltage smart Maximum Demand &lpar;MD&rpar; meters&period; Also&comma; the deployment of over 3&comma;000 prepayment meters on Band A feeders&comma; through MAP vendor financing&comma; all geared towards mitigating billing and commercial losses&period; Similarly&comma; check meters have been installed on all major commercial feeders with high losses and bifurcation of those feeders&comma; for improved power distribution&comma; efficiency&comma; and energy accountability which has led to a significant reduction in losses and improved collection efficiencies&period;<&sol;p>&NewLine;<p>In the area of network reliability&comma; the management has initiated expansion efforts in a bid to foster efficiency in service delivery and meet service-level agreement commitments&period; KEDCO&&num;8217&semi;s projection is to achieve 25 percent ATC&amp&semi;C losses by year-end while meeting 100 percent market obligations as the NESI transitions to a Bilateral trading market&period;<&sol;p>&NewLine;<p>KEDCO’s management has been tasked with turning the business around and are working round the clock to continue driving improvements&period; The Acting Managing Director&comma; Abubakar Yusuf stated that&comma; &OpenCurlyDoubleQuote; At all levels&comma; we have prioritized collaboration&comma; partnership&comma; and regular stakeholders’ engagements within the government&comma; traditional&comma; security&comma; political&comma; religious&comma; and community partners to drive progress&period; If KEDCO succeeds our communities succeed so it has to be a team effort&period;”<&sol;p>&NewLine;<p><&excl;-- END THEIA POST SLIDER -->&NewLine;<&excl;-- WP QUADS Content Ad Plugin v&period; 2&period;0&period;95 -->&NewLine;<div class&equals;"quads-location quads-ad5" id&equals;"quads-ad5" style&equals;"float&colon;none&semi;margin&colon;0px&semi;">&NewLine;&NewLine;<&sol;div>&NewLine;<&sol;p>&NewLine;<script async src&equals;"https&colon;&sol;&sol;pagead2&period;googlesyndication&period;com&sol;pagead&sol;js&sol;adsbygoogle&period;js"><&sol;script> &NewLine;<ins class&equals;"adsbygoogle" &NewLine; style&equals;"display&colon;block" &NewLine; data-ad-format&equals;"autorelaxed" &NewLine; data-ad-client&equals;"ca-pub-4403533287178375" &NewLine; data-ad-slot&equals;"1004305389"><&sol;ins> &NewLine;<script> &NewLine; &lpar;adsbygoogle &equals; window&period;adsbygoogle &vert;&vert; &lbrack;&rsqb;&rpar;&period;push&lpar;&lbrace;&rcub;&rpar;&semi; &NewLine;<&sol;script>&NewLine;<&excl;-- WP QUADS Content Ad Plugin v&period; 2&period;0&period;95 -->&NewLine;<div class&equals;"quads-location quads-ad4" id&equals;"quads-ad4" style&equals;"float&colon;none&semi;margin&colon;0px&semi;">&NewLine;&NewLine;<&sol;div>&NewLine;&NewLine;

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