Lagos - The management of Ikeja Electric on Wednesday said the company was set to embark on massive installation of smart meters within the zone in September.
Mr Abiodun Ajifowobaje, the Chief Executive Officer, announced this at a consultation meeting on tariff review with the Manufacturers Association of Nigeria (MAN) ,professional bodies and association in Lagos.
Ajifowobaje said that the company had installed 2,120 smart meters in August to its numerous consumers free of charge as a pilot scheme in all the units of the company.
He said that the aim of the scheme was to eliminate estimated billing and ensure that all consumers within the zone were metered.
Ajifowobaje said that it was pathetic that 24 out of 2,120 meters installed by the company had been bypassed by consumers.
"When we came on board in Nov. 1, 2013, we discovered that out of 138,000 prepaid meters installed, 78,000 meters were bypassed by consumers within the zone.
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"This was the reason why we introduced smart meters, because we can easily identify any of our consumers that bypasses it.
"As I am speaking to you now, 24 meters out of the 2,120 meters installed in August have been bypassed and I can see it from my office," he said.
The chief executive officer urged the associations to embrace the tariff review by the company to promote uninterrupted power supply.
He lamented that energy consumption was being subsidised by the government before the privatisation, adding that they were running the company at a loss.
Ajifowobaje said that out of 100 per cent billing sent out by the company, 60 per cent went to Generation Companies (GENCOS), 25 per cent to Transmission Company of Nigeria (TCN) while it was left with 15 per cent.
He said that what would be left could not guarantee adequate power supply to the numerous consumers.
The chief executive officer said there would be an increase in tariff but it would come down later.
Responding, Mr Ambrose Uche, the Chairman, Ikeja Branch of MAN, said that the association was not ready to dialogue with the company because the tariff review case was in court.
Uche said that the case would come up on Sept. 29 in Lagos.
He urged the company to allow court to decide on the issue before deliberating on it.
The chairman said that MAN could not operate on a tariff that would be changing all the time.