Power workers’ strike costs DisCos N3b in 14 hours
By Jeph Ajobaju, Chief Copy Editor
Power distribution companies (DisCos) already grappling with revenue slide incurred another N2.94 billion loss in revenue on Wednesday in the 14 hours the strike by electricity workers lasted before Abuja intervened
The National Union of Electricity Employees (NUEE) and the Senior Staff Association Electricity and Allied Companies (SSAEAC) grounded the Transmission Company of Nigeria (TCN), leading to a nationwide blackout.
DisCos lost about N2.94 billion in revenue, based on an average rate of N55/kWh with TCN producing an average 3,818 megawatts (mw), according to data tracked by Nairalytics in the past two weeks.
The strike was called off for two weeks on Wednesday evening after Labour Minister Chris Ngige, Power Minister Abubakar Aliyu, Power Minister of State Goddy Jedy-and the representative of federal Head of Service held a meeting with the unions.
“The Minister of Labour and Employment, Chris Ngige, has apprehended (sic) the strike embarked upon by the National Union of Electricity Employees (NUEE) following an emergency meeting between the union, government, and other stakeholders,” a statement issued by the ministry’s spokesperson said.
It added that Ngige has set up a tripartite committee to investigate the grievances of the workers towards addressing them.
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DisCos grappling with revenue crunch
The N2.94 billion loss comes at a time when some DisCos are grappling with revenue crunch caused by decline in power supply.
Benin Electricity Distribution Company (BEDC) said it lost N750 million in the past one month as a result of what it called illegal takeover of its operations.
Ibadan Electricity Distribution Company (IEDC) in July lamented a decline in revenue because of outstanding bills, non-payment of bills, underpayment, meter bye-passing, use of illicit meters, and energy theft by customers.
DisCos could have earned an additional N2.94 billion if power supply had not been interrupted by the unions.
Eleven DisCos increased their aggregate revenue 44.5 per cent to N761.2 billion in 2021 versus N526.8 billion in 2020.
Electricity bill grew 5.98 per cent to 23,360.59 Gigawatts hour (Gwh) in 2021 from 22,042.28 Gwh in 2020.
