The electricity distribution company, popularly called Ikeja Electric (IE) has signed a bilateral agreement with residents of Ikeja government reserved area Ikeja GRA, to supply them 24-hour electricity.
The premium power initiative is a power purchase agreement under the Willing Buyer, Willing Seller initiative issued by the Nigerian Electricity Regulatory Commission (NERC).
It entails a commitment to specific service level standards while the consumer agrees to pay a tariff that is above the current multi year tariff order (MYTO) tariff.
The announcement was made on the verified twitter handle of IE.
“Ikeja Electric signs bilateral Power Agreement with Ikeja GRA.
…Residents to enjoy up to 24 hours of supply daily,” the company said.
Ikeja Electric signs bilateral Power Agreement with Ikeja GRA.
…Residents to enjoy up to 24 hours of supply daily. pic.twitter.com/13ue5K1wqw
— Ikeja Electric (@IkejaElectric) October 11, 2019
Beneficiaries include residents living in streets such Isaac John, Esugbayi, Joel Ogunaike, Ogunbiyi and Oba Akinjobi and some others.
Residents of Magodo community in Lagos had earlier in August, signed similar agreement with Ikeja Electric which resulted in a 24-hour supply of electricity in the area.
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