Power distributors’ revenue collection hits N473bn

A new high record from the revenue collected by power distribution companies in the county hits N473bn in 2019.

Compared to 2018, the revenue collected  in 2019 rose by N35bn or eight per cent, according to a report obtained from the Association of Nigerian Electricity Distributors showed on Monday.

ANED, an umbrella body for the Discos, said the energy wheeled by the Transmission Company of Nigeria only increased by one per cent, adding that the allowed end-user tariff remained at an average of N32.5 per kilowatt-hour average since 2016.

It said the energy received last year increased to 26,630 gigawatt-hours from 26,385 GWh in 2018, while the energy billed rose to 21,702 GWh (an equivalent of N695bn) from 20,852 GWh (N662bn).

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The group said the Discos’ collection sets a new record of N42.1bn in December, and the collection efficiency for the 4th quarter has a new record of 71.4 per cent.

It said, “The aggregate technical, commercial and collection loss (moving average) keeps improving and it is now at 44.6 per cent.

“Nevertheless, a few Discos are showing symptoms of fatigue in their ATC&C loss reductions, with a Disco deteriorating by a moving average of 4.7 points in 2019.

According to ANED, Yola Disco has not been in control of its ATC&C losses for the last three years and will probably end the year at over 70 per cent in ATC&C losses.

It said the energy to be received by the Discos continued to be flat, low and far from any of the projections by the Nigerian Electricity Regulatory Commission under the Multi-Year Tariff Order financial model.