In order to address growing outstanding electricity consumption debts, BEDC Electricity Plc (BEDC) has developed a debt restructuring scheme which offers customers a various range of discounts, and, in combination with the down payment, extends the period of debt contract up to a maximum of 60 months, depending on customers’ debt profile.
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. This scheme has taken off across the franchise States of Delta, Edo, Ekiti, and Ondo.
The scheme is designed in a customer-centric manner aiming to support esteemed customers to minimize 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 at when due, given series of challenges including prevailing economic and financial difficulties.
The scheme provides the opportunity or possibility to restructure the terms and conditions for them to be able to settle their outstanding bills over a period.
The key features include; “the Offered Debt Rescheduling Scheme is applicable for debt over Naira 10,000, Combines discount ranges from 5% to 25%, Down payment of 25%, Debt repayment periods from 6months up to 60 months depending on customers’ profile (whether metered or estimated), debt range and type of tariff band
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“Customers could be offered an additional rebate of 5%, in addition to the applicable discount, if the remaining outstanding amount is paid instantly. Discounts are canceled if customers fail to meet agreement at any time.”
“For customers who have outstanding debts and do not pay as and when due disconnection of these parties will continue, unless they are part of the rescheduled agreement and are paying their debts on due dates,” BEDC stated further.
