Eko DisCo Addresses Sale Rumors, Excel DisCo Takes Over Lagos Operations
Eko Electricity Distribution Company (EKDC) clarifies the alleged sale of its Lagos operations to a new entity, Excel Electricity Distribution Company Limited, to comply with regulatory requirements. The move follows the Electricity Act of 2023, which mandates regulatory oversight by the Lagos State government.
EKDC transitions to a holding company, with Excel DisCo assuming distribution duties in Lagos while EKDC retains ownership. The restructuring aims to ensure compliance and maintain service quality.
The new subsidiary assures customers of uninterrupted service and reaffirms commitment to reliable power supply. The creation of Excel DisCo separates regulatory oversight from operational functions in line with legal obligations.
Plus234Feed summary based on reporting from Legit NG. Read the original report below.
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