DisCos collect N210b from consumers out of N303b bill
By Jeph Ajobaju, Chief Copy Editor
Consumers paid N210.17 billion to power distribution companies (DisCos) in the fourth quarter of 2021 (Q4 2021), according to newly released report by the Nigerian Electricity Regulatory Commission (NERC).
NERC Quarterly Report for Fourth Quarter 2021 said the amount paid was 69.34 per cent of the total bill DisCos gave consumers in the quarter.
“The total revenue collected by all Discos in 2021/Q4 was N210.17 billion out of N303.11 billion billed to customers – corresponding to a collection efficiency of 69.34 per cent (70.89 per cent in 2021/Q3),” the regulator explained.
“Compared to 2021/Q3, the total billing by Discos increased by N30.12billion (+11.03 per cent) while the revenue collected increased by only N16.64billion (+8.60 per cent), hence the reduction in overall collection efficiency in 2021/Q4.”
Combined market remittance order adjusted invoices from the Nigerian Bulk Trading Company (NBET) and Market Operator (MO) to Discos was N210.72 billion for generation costs and transmission and administrative services.
“Out of this amount,” NERC said, “the Discos collectively remitted a total sum of N149.19billion with an outstanding balance of N61.53 billion. This represents a remittance performance of 70.80 per cent during the quarter.”
_______________________________________________________________
Related articles:
Reps aghast $33m paid monthly for power not supplied
Nigeria’s neighbours owe it N5.8b in power bill
$400b required to power 25m homes by 2050, says minister
________________________________________________________________
Total invoices issued
Out of the total invoice of N205.18 billion NBET issued to Discos, it was expected to receive N160.13 billion but got only N109.45 billion.
“Overall, the total Disco remittance performance to NBET was 68.34 per cent of the expected market remittance for 2021/Q4 compared to 65.08 per cent (N100.16billion remitted against an invoice of N153.90billion) in 2021/Q3,” the NERC said, via The PUNCH.
“During 2021/Q4, Eko and Jos Discos surpassed their MRT to NBET by 32.64 per cent (+4.87 billion) and 0.86% (+0.03 billion) respectively.”
Total invoice from MO to Discos in Q4 2021 was N50.58 billion and 100 per cent remittance was expected.
“However, only N39.75 billion was received from all the Discos which means that the MO remittance performance for the quarter was 78.59 per cent.
“This represents a 2.58 percentage point increase compared to 76.01 per cent (N41.53 billion remitted against an invoice of N54.64 billion) recorded in 2021/Q3.”
Special/international customers
NBET issued invoices of N380.62 million and MO N82.53 million to Ajaokuta Steel Company, among special/international customers in Q4 2021, but it did not make any remittance, as happened in Q3 2021.
“During the same period, MO issued an invoice of $13.11 m to bilateral customers (Paras-SBEE, TRANSCORP-SBEE, Mainstream-NIGELEC & Odukpani-CEET) but no remittance was made (payment of $6.22m was made in 2021/Q3 against invoice of $11.52m).”
.){kind=link}