The revenue collection efficiency of 11 electricity distribution companies (Discos) reached 85.82% in February 2024, according to a report by the Nigeria Electricity Regulatory Commission (NERC).
The NERC Factsheet released on Monday said that Discos collected N97.01 billion in the month under review out of the billed figure of N113.05 billion.
For the month under review, Ikeja Disco recorded the highest revenue collection efficiency at 114.64%, collecting N19.48 billion out of N17.08 billion billed to customers. Ikeja was followed by Eko and Abuja Discos, which recorded revenue collection efficiencies of 99.24% and 87.26%, respectively.
On the other hand, Yola Disco posted the lowest revenue efficiency for the month at 48.47%, followed by Kano and Jos Discos, which reported 63.15% and 73.04%, respectively.
Recommended reading: Electricity Discos revenue increased by 13.37% to N294.95 billion in Q4, 2023
Energy billing efficiency of Discos
In terms of electricity received and billed, the 11 Discos received around 2,149.80 GWh for the month and dispensed 1,759.2 GW. This represented an energy billing efficiency of 81.83%.
According to the report, Eko Disco recorded the highest energy billing efficiency from generation companies (Gencos), distributing 236 GWh from a total of 260 GWh received, marking an energy billing efficiency of 90.08% for the month. Yola and Enugu Discos followed with energy billing efficiencies of 87.04% and 85.50%, respectively.
Furthermore, Abuja and Ikeja Discos received the highest energy bill from Gencos at 329 GWh and 316 GWh, respectively, for the month, while Yola, Jos, and Kano Discos received the lowest energy from power generators during the period under review.
What you should know
The power industry has come under intense scrutiny in the past few weeks following the over 200% hike in tariff for Band A customers earlier in April. The hike has attracted criticism from stakeholders, consumers- both individuals and industrial.
The Federal Government has defended the hike, noting that it will attract significant investment into the ailing power sector where electricity distribution companies have failed to make profits in the past years.
It also noted the hike only affects under 20% of electricity customers as the tariffs of majority of Nigerians remain unchanged.
