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Benin Electricity Distribution Company Plc (BEDC) has said it has developed a debt restructuring scheme for customers to enjoy discounts in a bid to address growing outstanding electricity consumption debts. The company also announced an extension period of debt contract for up to a maximum of 60 months, depending on customers’ debt profile in combination with the down payment.
BEDC said in a statement issued at the weekend that, “The debt rescheduling scheme is in line with the Nigerian Electricity Regulatory Commission (NERC) Act which mandates that electricity operators recover costs on prudent investment to be able to provide quality services to customers.” The statement disclosed that the scheme has taken off across the franchise states of Delta, Edo, Ekiti and Ondo.
The scheme is designed in a customer-centric manner to encourage esteemed customers to minimize their debt repayment burden and to help them to gradually decrease accumulated debts, while providing increased quality in electricity supply in line with Service Reflective Tariff (SRT) Regulation. BEDC explained that the scheme was introduced in order to help customers who were unable to settle electricity bills as and when due, due to the prevailing economic and financial difficulties. It provides opportunity to restructure terms and conditions for them to be able to settle their outstanding bills over a period.
