BEDC spends N8.5bn on power purchase for Edo, others in 1 month

The Benin Electricity Distribution Company (BEDC) has disclosed that it spends an average of N8.5 billion in a month to purchase power from the Nigerian Bulk Electricity Trading Company for its customers in Edo, Delta, Ondo and Ekiti States.

BEDC’s Managing Director, Funke Osibodu, who disclosed this yesterday in Benin during a media chat, said despite the huge amount spent on power purchase, majority of its customers are indebted heavily to the company.

“We spent N8.5 billion to purchase power from those who are selling to us. This does not include salaries, maintenance and other expenses,” she said.

Funke lamented that only 50 percent of the bill consumed are paid by customers and it is hindering its activities.

She said to ensure that customers pay their debts, it has commenced a debt rescheduling scheme by offering discount ranging from five to 25 percent with the balance payable over four years or provision of addition five percent discount if a customer pays the outstanding instantly.