Despite concerns over low power generation, electricity distribution companies managed to increase their monthly revenue from N95 billion in January to N100 billion in March 2024.
According to data released by the Nigerian Electricity Regulatory Commission (NERC), February saw a revenue generation of N97 billion.
This surge in revenue occurred amidst a significant decrease in power supply due to gas shortages, as observed by our correspondent.
NERC data indicated that in January, Discos received 2,577 gigawatt-hours (GWh) of power and billed 2,072 GWh, achieving an 80 per cent billing efficiency.
Billing amounted to N130.9 billion, with total revenue collected standing at N95 billion, representing a 72 per cent billing efficiency.
In February, total energy received by Discos dropped to 2,149 GWh, with revenue collection totaling N97 billion from N113 billion billings.
March saw 1,975 GWh billed from the 2,468 GWh received, resulting in a revenue of N100 billion from N126.5 billion billings.
This revenue increase can be attributed to a tariff hike, with NERC reporting an allowed average tariff of N62.73 k/KWh and an actual average collection of N40.69 k/KWh for March.
Ikeja Disco led in revenue generation with N20 billion, followed by Eko and Abuja Discos at N16.7 billion each.
Ibadan Disco generated N10 billion, while Benin and Enugu earned N7.5 billion and N6.9 billion, respectively.
Newly inaugurated Geometric Power (Aba Power) generated N1.1 billion, while Yola Disco earned N1.5 billion.
Throughout the first quarter of 2024, Discos generated a total of N292 billion.
January’s nationwide blackouts were caused by gas shortages, which led to power generation dropping below 2,500 MW and impacted distribution capabilities.
NERC’s removal of electricity subsidies in Band A areas raised tariffs to N206 per kWh, sparking protests from labour unions. Minister of Power, Adebayo Adelabu, defended the move, stating it would attract investment and transform the power sector.
