Electricity distribution companies across the country collected N150.86 billion in revenues in June 2024 representing a collection efficiency rate of 85.44%.
The fact sheet on electricity distribution companies’ performance in the month published by the Nigeria Electricity Regulatory Commission (NERC) stated that Discos across the country billed customers up to N176.57 billion.
According to the factsheet, Ikeja DisCo received the highest revenue for the month at N30.06 billion representing a billing efficiency rate of 102.44%.
It was followed by Eko disco which recorded a billing efficiency ratio of 97.07% collecting up to N26.37 billion.
While Benin DisCo recorded the third highest billing efficiency of 89.49%, Abuja disco collected the third highest revenue at N24.29 billion.
On the other hand, Yola DisCo recorded the lowest biggest revenue collection efficiency rate as well as lowest revenue among electricity distribution companies for the month at 60.81%. This was followed by Jos and Kaduna DisCos at 62.03% and 66.46% respectively. Yola, Jos and Kaduna DisCos collected N3.08, N4.96 and N5.01 billion respectively.
In terms of energy received and billed, the 11 electricity distribution companies received 2,190.12 GWh of electricity and billed up to 1,850.73GWh. This represents an energy billing efficiency rate of 85.44%.
In this regard, Enugu DisCo recorded the highest billing efficiency rate at 95.63% billing 153 GWh out of 160 GWh of energy billed. This was followed by Yola and Ibadan DisCos respectively with billing efficiency rates of 92% and 90% respectively.
Furthermore, Kaduna, Jos and Kano DisCos recorded the lowest energy billing efficiency rate in the month at 63.7%, 71.49% and 79.03% respectively.
The DisCos revenue collection of N150 billion represents a significant increase from the period before the electricity tariff increase for Band A users. In April, the Nigeria Electricity Regulatory Commission (NERC) announced an over 200% hike in electricity tariffs for Band A users who constitute about 17% of electricity consumers in the country.
According to the NERC, the tariff increases only affected customers who enjoy at least 20 hours of electricity daily.
In February, all Discos collected N97.01 billion out of the total billed amount of N113.05 billion. Ikeja Disco achieved the highest revenue collection efficiency for the month at 114.64%, collecting N19.48 billion from the N17.08 billion billed to customers. Following Ikeja were Eko and Abuja Discos, with revenue collection efficiencies of 99.24% and 87.26%, respectively.
In the first quarter of 2024, the total revenue collected by Discos was N291.62 billion, a slight decrease from the N294.95 billion collected in Q4 2023.