The Nigerian Electricity Regulatory Commission on Monday revealed that power distribution companies collected total revenue of N193.53bn from consumers across the country in the third quarter of 2021.
Since the power sector was privatized in November 2013, the power supply in Nigeria has remained unstable as millions of consumers have repeatedly complained of the poor state of electricity supply and blackouts nationwide.
However, in its just-released third quarter 2021 report, the power sector regulator stated that the 11 electricity distribution companies raked in over N193bn during the three months.
Commenting on collection efficiency by the Discos, the commission said, “The total revenue collected by all Discos in 2021/Q3 was N193.53bn out of the N273bn billed to customers. This represents a collection efficiency of 70.89 percent as compared to 68.89 percent recorded in 2021/Q2.
“The total revenue collected in 2021/Q3 rose by N8.24bn (+4.45 percent) from N185.29bn recorded in 2021/Q2. The overall improvement in collection efficiency during the quarter under review could be attributed to the roll-out of meters under both the National Mass Metering Programme funded through the Central Bank of Nigeria and the continuation of the Meter Asset Provider scheme.”
On market remittance, the NERC stated that the combined Market Operator invoice and Nigerian Bulk Electricity Trading Plc Market remittance order adjusted invoice to Discos in 2021/Q3 was N208.54bn for energy and administrative services.
It stated that out of this amount, the Discos collectively remitted a total sum of N141.69bn (N41.53bn for MO and N100.16bn for NBET), representing a remittance performance of 67.94 percent during the quarter, with an outstanding balance of N66.85bn.
