Amid complaints of low power generation, the electricity distribution companies were able to raise monthly revenue from N95bn in January to N100bn in March 2024.
According to data released by the Nigerian Electricity Regulatory Commission, N97bn revenue was generated in February.
Our correspondent observed that the rise in revenue occurred at a time when the country experienced a huge drop in power supply as a result of gas shortages.
Data from the NERC showed Discos received 2,577 gigawatt-hours of power and billed 2,072GWh of the energy received, recording 80 per cent billing efficiency in January.
It was stated that N130.9bn was the total billing, while the total revenue collected stood at N95bn, representing 72 per cent billing efficiency. The allowed average tariff rate in the month was N59.89k per kilowatt-hour, and the actual average collection was N36.97k/KWh.
It was noted that the total energy received by the Discos in February dropped to 2,149GWh, out of which 1,759GWh was billed by the Discos, adding that N97bn revenue was collected from N113bn billings.
The 1,975GWh energy was billed in March from the 2,468GWh received, while N100bn was generated from N126.5bn billings.
The rise in revenue is traceable to an increase in tariff, as the NERC said the allowed average tariff for March was N62.73k/KWh while the actual average collection was N40.69k/KWh.
In March, the Ikeja Disco had the highest revenue of N20bn, followed by Eko and Abuja Discos with N16.7bn each.
Ibadan Disco generated N10bn during the period under review, while Benin and Enugu raked in N7.5bn and N6.9bn, respectively, according to NERC.
The PUNCH learnt that the newly inaugurated Geometric Power, otherwise known as Aba Power, generated N1.1bn while Yola Disco earned N1.5bn.
Within the first quarter of 2024, the Discos were said to have generated N292bn.
In January, Nigeria was thrown into nationwide blackouts due to gas shortages as gas companies refused to supply gas to electricity-generating companies due to unpaid debts.
The power generation that had been hovering around 4,000MW dropped drastically below 2,500MW at a point, affecting the capacity of the distribution companies to supply electricity to their consumers.
Then, the Discos apologised to their customers, saying, “We cannot give what we don’t have.”
While the issue of gas shortages had yet to be fully resolved, the NERC removed electricity subsidies in areas categorised as Band A, raising the tariff to N206 per kilowatt-hour.
As labour unions took to the streets to kick against the tariff hike, calling for a reversal, the Minister of Power, Adebayo Adelabu, said the reversed tariff would transform the Nigerian power sector with enough liquidity.
Adelabu stated that the policy was already attracting local and foreign investors to the power sector.
SOURCE: PUNCHNG
