As the battle for the acquisition of the prized assets of the Power Holding Company of Nigeria (PHCN), under the on-going privatisation programme intensifies, Vigeo Power Limited has strategised to clinch some of the assets.
The company, which was pre-qualified for the technical bids of one of the distribution companies unbundled from PHCN, also participated in the PHCN bid for metering and billing management.
The company said in a weekend statement that it emerged top among the bidders in the evaluation of the combined technical and financial proposals.
“The company was the management operator for the National Pre-Payment Metering Programme (NPPMP) in the Benin Electricity Distribution Company (BEDC) covering Edo, Delta, Ondo and Ekiti States. The programme primarily targeted at reducing non-technical losses and improving customer satisfaction via improved customer service delivery. This entails the procurement, installation and management of prepaid meters in BEDC. The contract provides for the installation of 161,000 Pre-Paid Meters (PPMs) within 2 years and management of the vending operations until the operator’s investment in metering and vending infrastructure is fully repaid,” the statement said.
“Again GUMCO emerged top with no less impact, installing over 150,000 Prepaid Meters within two years, when the total Pre-paid metering installation in the whole 11 Distribution companies under the NPPMP was less than 500,000, that is 485,000 at the stoppage of investment deployment under the NPPMP. This is a feat unequalled in the annals of PHCN,” the statement added.
The company stated that it has continued to render technical support services to BEDC, Ikeja Electricity Distribution Company (IEDC) and other Discos especially in areas of Metering, Billing and Collection infrastructure development and management.
Established in 1999, Vigeo Power has extensive experience in the Nigerian electric distribution and downstream sector.
It is managed by a team of indigenous and expatriate professionals with over 60 years cumulative experience in power and utilities project management.
The company’s Nigerian experience includes over eight years of public private partnership experience in both Revenue Cycle Management (RCM) and Prepaid Metering Service with the PHCN