EKEDC’s Six-month Revenue Hits N39.5bn, ATC&C Losses Decline

Eko Electricity Distribution Plc (EKEDC) has announced a year-to-date revenue of N39.5 billion, marking a significant financial achievement. The company also reported a substantial reduction in Aggregate Technical, Commercial, and Collection (ATC&C) losses, which have fallen to 19.71 percent. These figures were presented to the Senate Committee on Privatisation during an oversight visit to EKEDC's headquarters in Lagos.

Senator Shuaibu Isa Lau led a nine-member delegation to review the utility firm's operational performance. EKEDC's management, headed by Managing Director and Chief Executive Officer Mr. Wola Condotti, detailed the company's progress since its privatization in 2013. They highlighted that ATC&C losses have been more than halved, dropping from 35.37 percent to the current 19.71 percent.

Furthermore, EKEDC's financial performance has seen a dramatic increase in revenue. The average monthly revenue billed has grown from under N2 billion in 2013 to N39.5 billion year-to-date. The number of customers with meters has also surged, rising from 183,808 to 584,193 over the same period. The company also informed the committee about key milestones achieved between 2024 and 2026, including the full settlement of market obligations to entities such as the Nigerian Independent System Operator (NISO), Waterfall, Nigerian Bulk Electricity Trading Plc (NBET), and bilateral power purchase agreement counterparties.