…Int’l consumers remitted $5.21m
The Nigerian Electricity Regulatory Commission (NERC) has said that the total revenue collected by all electricity distribution companies in Nigeria (DisCos) in 2024/ Q4 was N509.84 billion out of N658.40 billion billed to customers. It stated that this translated to a collection efficiency of 77.44 per cent.
It added that the N509.84 billion represented an increase of +2.89pp compared to 2024/Q3 (74.55%). These were contained in NERC’s 2024 fourth quarterly report made available to journalists yesterday.
It further said: “The Aggregate Technical, Commercial and Collection (ATC&C) loss is a summation of billing losses incurred by a DisCo due to its inability to bill 100% of energy delivered to customers (technical and commercial losses and collection losses arising from the DisCo’s inability to collect 100 pet cent of the bills issued to customers.
“The weighted average ATC&C loss across all the DisCo in 2024/Q4 was 35.22 per cent, comprising technical and commercial loss (16.34%) and collection loss (22.56%).
The ATC&C loss of 35.22 per cent was +10.44pp higher than the MYTO target (24.78%) and translates to a cumulative revenue loss of N139.08 billion across all DisCos.
“The ATC&C loss decreased by -3.88pp (improved performance) compared to 2024/Q3 (39.10%). Only Yola and Eko DisCos achieved their target ATC&C, as provided in the MYTO during the quarter.
“The other DisCos failed to achieve their target ATC&C, with Kaduna DisCo recording the worst underperformance relative to the target ATC&C (Actual –60.65% vs. target– 25.00%).
“In 2024/Q4, the cumulative upstream invoice payable by DisCos was N408.86 billion, consisting of N360.97 billion for DRO-adjusted generation costs from Nigerian Bulk Electricity Trading Plc (NBET) and N47.89 billion for transmission and administrative services by the Market Operator (MO).
“Out of this amount, the DisCos collectively remitted a total sum of N378.93 billion (N336.63 billion for NBET and N42.30 billion for MO) with an outstanding balance of N29.92 billion.
This translates toa remittance performance of 92.68 per cent in 2024/Q4 compared to the 83.77 per cent recorded in 2024/Q3. The disaggregated DisCo remittance performance to the market for 2024/Q4.
“On remittance by Special and Bilateral Customers: In 2024/Q4, the six (6) international bilateral customers purchasing power from the grid connected GenCos made a cumulative payment of $5.21 million against the $14.05 million invoice issued to them by the MO for services rendered in 2024/Q4.
“Similarly, the domestic bilateral customers made a cumulative payment of N1,252.58 million against the N1,977.02 million invoice issued to them by the MO for services rendered in 2024/ Q4.”
