Abuja Electricity Company Incurs N80 Billion Imbalance Penalty Because…

The Abuja Electricity Distribution Company , AEDC, has said that it incurred N80 billion as imbalance penalty from November 2013 to date.

The Executive Director, Regulatory and Stakeholders’ Affairs of the company, Abimbola Odubiyi, disclosed  this in Abuja on Thursday, June 25.

According to him, the amount was for taking excess of the 11.5 per cent of energy allocated to it from the national grid to meet customers’ demand.

“Because we have taken more power than the national allocation to serve our customers, we have incurred N80 billion in imbalance penalty. Trying to serve our customers has put us in huge financial difficulty,’’ he said.

He however stated the AEDC had better facilities compared to others in other parts of the country to take more power and distribute to consumers.