The electricity market in Edo State is taking a turn for the better as increased competition among players has created options for reliable power supply to residents, who credit the Edo State Governor, Mr. Godwin Obaseki, for opening up the state for investment that has now improved their living standards.
Checks in the Benin metropolis have revealed that the two major power distribution companies in the state, Benin Electricity Power Distribution Company (BEDC) and Ossiomo Power Company are in a fierce battle for the customers with the competition assuring better power options to residents.
It was discovered that with the improvement of distribution infrastructure by Ossiomo Power in select areas in the Benin metropolis, residents are opting for the company’s power solution with the supply averaging 22-24hrs/day.
Mr. Sylvester Omorogbe, who resides in the Ugbor axis of Benin City, said a lot of people are now opting for power supply from Ossiomo Power because of its reliability and ease of payment.
According to him, “We have just connected to Ossiomo Power. The power from the facility is stable. We get 24 hours electricity from the company, as we have a direct link to their sub-station in the area.
“In fact, if you go around, you will discover that a lot of the new houses in the area are connected to the power company. They also use it as a marketing tool to even increase the rent for their houses because the people are assured of stable power. So, for instance, those who are building serviced apartments, they rather connect to the facility than to the others available.”
An estate manager operating in Ugbor axis, Mr. Nelson Osamudiamen, said the option of connecting to Ossiomo Power changes a lot of things for residential and industrial areas.
“The industrial areas are even better served because they need electricity to keep the machines running, which is not what you get everywhere in Nigeria.
“However, residential real estate benefits when it provides electricity with which we can use in winning clients.”
An economic analyst, Ikponmwosa Nosakhare, said the development is critical to development in the state as the entrant of a new player ensures better service to the people.
“It is great that BEDC, which used to dominate the market, now has a competitor. With this, we have a more stable market situation as people are now provided with options when considering power solutions in their homes or industries. Those who will benefit the most are industries, hotels, and others in the hospitality sector.”