Abuja Electricity Distribution Company (AEDC) has disclosed its intention to change its name and rebrand to assume a newer image.
The management and shareholders of the company led by its Managing Director/Chief Executive, Neil Croucher, accompanied by Managing Director of CEC Africa, Michael Tarney and representative of United Bank for Africa, Helen Brume, made this known while on a visit to the Nigerian Electricity Regulatory Commission (NERC) headquarters in Abuja.
According to the CEO, the company had come to informof its desire to change its name and also rebrand for better and efficient performance.
He saidthe visit was also to intimate the Commission on the company’s vision in the light of the expectations of electricity customers and the industry at large.
Croucher further disclosed that the company was in the process of establishing a call centre to deal with consumer related issues.
One of the shareholdersand Managing Director of CEC Africa, on the team, Michael Tarney, revealed that it was financing the Abuja Disco up to 99 percent in collaboration with the United Bank for Africa (UBA).
He affirmed that the Nigerian environment was accommodating to private investors and commended the Nigerian government for making it possible for foreign investors to invest in the country.
Tarney,however disclosed that the company was operating on loses at the moment due to gas constraints and the challenge of recouping payment for services rendered to customers.
Welcoming the delegation, NERC Chairman, Dr Sam Amadi, noted that the involvement of UBA as debt provider was highly commendable, even as he cautioned on the utility failing in its operations which may in turn affect the bank.
Amadi also said that the UBA’s involvement was indicative of Nigerian banks capacity to finance the sector.
He said the as the AEDC makes efforts to improve on both cash collection and revenue increase, it should see to it that the money was injected into metering.
’Metering needs to be improved upon because it will enhance data gathering and revenue collection’’ he said.
He advised that sub-stations should be properly fenced to stem the activities of vandals, which was another way of saving cost.
He told the visiting utility investors that the Commission’s stance on tariff was that it should be cost reflective.