Minimum of 20 hours daily (600-620 hours monthly, except in February)
No, a key requirement is 100% billing through metering devices in pursuant to the Meter Asset Provider Regulations.
As soon as the Power Purchase Agreement is signed and all conditions listed above are fulfilled, the customer will be connected by the agreed commencement date as stated in the Agreement.
As this is a willing buyer-willing seller power supply arrangement, as IE Prestige customers, your tariff is based on economic variables and may be different from NERC’s MYTO tariff.
Ikeja Electric under the Bilateral Power Purchase Agreement is committed to providing you with a minimum of 20 hours of supply daily. However, in the unlikely event that Ikeja Electric fails to supply a cumulative total of up to six hundred (600) or six hundred and twenty (620) hours (subject to the number of days in a month) of minimum bilateral power over a one (1) month period, Ikeja Electric will pay liquidated damages as stipulated in the Agreement.
*Note that Buyers who are caught bypassing or tampering with Ikeja Electric’s installations or assets shall not be entitled to any liquidated damages.