CONSUMERS PAY N193.53BN TO DISCOS AMID BLACKOUTS – REPORT

The Nigerian Electricity Regulatory Commission on Monday announced that power distribution companies collected a total revenue of N193.53bn from consumers across the country in the third quarter of 2021.

Power supply in Nigeria has remained unstable since the sector was privatised in November 2013, 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-month period. 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 per cent as compared to 68.89 per cent recorded in 2021/Q2. The total revenue collected in 2021/Q3 rose by N8.24bn (+4.45 per cent) 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’s 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 per cent during the quarter, with an outstanding balance of N66.85bn.

For the remittance to NBET, the NERC stated that out of the total invoice of N197.64bn issued by NBET to Discos, NBET was expected to receive N153.90bn under the MRT Order but it received only N100.17bn during the quarter.

Providing updates on available generation capacity, the commission stated that during the third quarter of 2021, there were 26 grid-connected power stations consisting of 10 privatised legacy power plants, nine National Integrated Power Project plants, and seven Independent Power Plants.

Read more at: https://punchng.com/consumers-pay-n193-53bn-to-discos-amid-blackouts-report/

 

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