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DisCos made over N121b revenue in Q2 – NERC

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ELECTRICITY Distribution Companies (DisCos) collected about N121.32 billion revenue in the second quarter of 2019.

This was contained in a report released by Nigerian Electricity Regulatory Commission (NERC) in Abuja, yesterday, for second quarter of 2019.

Putting the total number of firms operating under DisCos to 11, the report disclosed that the figure was derived from N186.08billion bills issued to consumers by electricity distribution firms.

According to the report, the firms recorded 80.18 per cent and 69.10 per cent billing and collection efficiency respectively, indicating 0.20 per cent and 5.11 per cent points increases respectively from the first quarter of 2019.

It further indicates that collection efficiency in the quarter under review stands at ₦3.09 out of every ₦10 worth of energy sold during the second quarter of 2019.

“During the quarter under review, the total billing to electricity consumers by the 11 DisCos rose to ₦186.08billion with a total collection of ₦121.32billion.

Similarly, during the second quarter of 2019, out of the total invoice of ₦180.08billion issued to the 11 DisCos for energy received from NBET and for service charge by MO, the sum of ₦55.10billion of the total invoice was settled, representing 30.60% remittance performance, and 2.83 percentage points to increase from the first quarter of 2019.

The average total remittance performance to the market for all DisCos was 30.60% and ranges from 13.12% (Jos) to 43.27% (Eko).

The severity of the liquidity challenge in NESI was reflected in the less than 50% settlement rate of the energy invoice issued by NBET and MO to each of the DisCos highlighted above, as well as the non-payment by the special and international customers,” the report said.

 

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