• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Business News
Abuja, Ikeja Discos top list in collection efficiency in Q1 2020- NERC, Estates in Lekki increase electricity tariff to N105/kWh, Eko Electric, Ikeja and 5 others to face NERC sanction for non-compliance, CBN reveals framework for financing National Mass Metering Programme (NMMP), Nigeria ranks eight African country with well-developed electricity regulatory frameworks, as Uganda tops.

Electricity pylons and power lines, at sunset.

DISCOs record loss of N58billion in unpaid electricity dues in Q2 2020

Adeyemi AdebayobyAdeyemi Adebayo
3 years ago
in Business News
Share on FacebookShare on TwitterShare on Linkedin

Electricity distribution companies in Nigeria (DISCOs) suffered a reduced tariff collection efficiency in Q2 2020 from 68.04% in 2020 Q1 to 64.4% in 2020 Q2,  with a recorded loss of N58 billion unpaid electricity dues.

This according to the Q2 report of the Association of Nigerian Electricity Distributors (ANED) on analysis of the commercial KPIs of member DISCOs.

  • According to the report, of the N163 billion billed by the 10 DISCOs in 2020 Q2, they only recouped N105 billion – representing a 64.4% collection efficiency.

Data from the report suggests that Covid-19 induced disruptions and lockdown negatively impacted the commercial performance and collection efficiency of the companies, which had improved over the last three quarters.

  • The report noted that of the 10 DISCO, Abuja DISCO recorded the highest collection efficiency (86.94%), significantly higher than that of Eko DISCO (73.26%).
  • Ikeja DISCO came third with 70.80% collection efficiency.
  • Benin DISCO also recorded below 50% (49.54%) collection efficiency, while Port Harcourt DISCO recorded the lowest (46.48%).

What you should know

  • The collection efficiency is computed by expressing total collection as a ratio of the total billing by DISCOs in a particular period.
  • In Q2 2020, the number of registered customers among the 10 private DISCOs passed the 9.8 million point.
  • In April, the collection efficiency declined to 49% due to the Covid-19 lockdown, with a monthly collection of only N27.3 billion. The collection gap has not recovered yet, even though the collection efficiency picked in June.
  • Covid-19 pandemic and unreliable energy delivered by the Transmission Company of Nigeria (TCN) affected the energy billed in the period. Uncertainty on the energy to be received from TCN constitute a major threat and may negatively impact future performance improvement plans.
  • Since 2015, there has been no significant improvement in the energy generated and wheeled by TCN to DISCOs. It continues to be low and flat, only affected by a seasonal effect between the dry and rainy seasons.
  • Nairametrics recently reported that the total revenue collected by DISCOs from customers in the first quarter of 2020, stood at N114.29 billion out of a total bill of N186.82 billion.
  • Abuja DISCO had the highest collection efficiency of 80.89%, followed by Ikeja DISCO with 72.39%, while Port Harcourt DISCO had the lowest collection efficiency of 43.36% in 2020 Q1.

Download Nairametrics App for breaking news and market intelligence.
   
Tags: Association of Nigerian Electricity DistributorsDISCOS
Adeyemi Adebayo

Adeyemi Adebayo

Adeyemi holds a PhD in Accounting Sciences. He has worked in the Educational Sector and as an Independent Consultant.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *







NM newsletters
Kwakol
Abbey
IMT

Zenth Bank
UBA
Mega Millions

Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

Recent News

  • Risevest acquires Chaka for undisclosed amount
  • Only 28 indigenous airlines survived out of 150 registered in 2000 – Alex Nwuba
  • Senator calls for Nigeria’s foreign reserves management to be handed over to Nigerian banks

Follow us on social media:

Recent News

Risevest, Chaka

Risevest acquires Chaka for undisclosed amount

September 26, 2023
NCAA, AOPA,

Only 28 indigenous airlines survived out of 150 registered in 2000 – Alex Nwuba

September 26, 2023
  • Download Nairametrics iOS App
  • Download Nairametrics Android App
  • Contact Us
  • Home
  • Exclusives
  • Markets
  • Industries
  • Economy
  • Business News
  • Financial Literacy
  • Opinions

© 2023 Nairametrics

No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
  • Login
  • Sign Up

© 2023 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In