Kano Electricity Distribution Company (KEDCO) Thursday said it recorded significant performance improvement and reduction in aggregate technical, commercial, and collection (ATC&C) losses since its acquisition by the new core investor – Future Energies Africa (FEA).
KEDCO said it recorded 80% Billing Efficiency in June 2024 up from 75% in January 2024 and also reduced ATC&C by almost 20 percentage points to a record of 42%.
In November 2023, Future Energies Africa (FEA) acquired the highest stake in KEDCO and have since embarked on reforms geared towards business turnaround and sustainable transformation of the company.
Currently, about 52 feeders receive between 20 to 24 hours of supply (including 11 recently upgraded) through investments and improved service delivery.
This was contained in a statement issued Thursday by KEDCO’s head, Corporate Communication, Sani Bala Sani.
He said these achievements are not merely coincidental but conscious efforts by KEDCO’s board and management, with ample support from the core investor, Future Energies Africa, through investment efforts and constant adoption of effective mechanisms to expeditiously address extant challenges towards making KEDCO financially self-sufficient.
Prominent among the recent challenges was the dispute with the Manufacturers Association of Nigeria (MAN) over the April 2024 supplementary tariff order which has now been resolved.
KEDCO, in its customer-centric spirit urged for a round-table reconciliation approach while reaffirming its continuous support for the prosperity of businesses and economic activities in the area.