DisCos revenue for Q2 2024 hits N431.16bn – NERC
Agency Report
The Nigerian Electricity Regulatory Commission (NERC) says the total revenue collected by all Electricity Distribution Companies (DisCos) in quarter two hit N431.16 billion.
The commission made this known on its Website in its second quarter 2024 report in Abuja on Thursday.
The report said that the N431.16 billion collected was out of the N543.64 billion that was billed customers, adding that this translated to a collection efficiency of 79.31 per cent.
It said in comparison to the total revenue collected by all DisCos in quarter 1 which was N291.62 billion out of the N368.65 billion billed customers which translated to 79.11 per cent collection efficiency.
The report showed that Ikeja and Eko DisCos recorded the highest collection efficiencies of 94.67 per cent and 88.03 per cent respectively.
” Yola DisCo recorded the lowest collection efficiency of 55.67 per cent
“A comparison of DisCos performance in Q1 and Q2 showed that six DisCos recorded improvements in collection efficiency, ‘’ it said.
The report also showed that the commission issued 18 licences, permits and certifications in the quarter under review.
It said these included: five new off-grid generation licences with a total nameplate capacity of 12.36 Megawatts (MW).
“Two on-grid generation licences with a gross capacity of 66MW, one new electricity trading licence, one system operator licence.
“One captive generation permit with a capacity of 5MW, six certifications for Meter Service Providers and two permits and two permits for Meter Asset Providers, ‘’ it said.
Meanwhile, the Commission in the report stated that a total of 49,188 meters were installed in the second quarter of 2024.
According to NERC, the figure represents a decrease of 60.86 per cent compared to the 125,664 meters installed in the first quarter.
The report said that during the quarter, 35,985 meters representing 73.16 per cent of the total installations, were installed under the Meter Asset Providers (MAP) framework.
It said that 264 meters representing 0.54 per cent were installed under the National Mass Metering Programme (NMMP) framework.
“The Vendor Financed framework accounted for 12,843 meter representing 26.11 per cent of the installations, while 96 meter installations were recorded under the DisCo Financed framework representing 0.20 per cent of the installations, ‘’ it said.
The report said that it expected the Electricity Distribution Companies (DisCos), to utilise a combination of the five meter financing frameworks that have been provided in the 2021 Meter Asset Provider and National Mass Metering Programme.
It said that meter framework recommended by the commission was to close their respective metering gaps as a safeguard for customers against exploitation due to the lack of meters.
