The NERC in the published notice tagged NERC/LC/023, signed by the Commissioner, Legal, Licencing and Compliance, Dafe Akpeneye, and dated May 15, 2023, read, “Take note that KAEDCO is hereby given 60 days from the date of this notice to show cause why the electricity distribution licence should not be cancelled in accordance with section 74 of EPSRA.”
KAEDCO also under-collected its revenues to the tune of N88.75bn as market shortfall, capital investment allowance and allowed operating expenses during the period. The Commission noted that KAEDCO’s investors in April sought more time from it without commitment to pay for energy remittance defaults.
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