Electricity Consumers pay N210.17bn in Q4, 2021 – NERC
The Nigerian Electricity Regulatory Commission says consumers paid a sum of N210.17bn to distribution companies in the fourth quarter of 2021.
This is contained in its Quarterly Report for Fourth Quarter 2021 published on Thursday on its website.
NERC noted that the N210.17bn represented 9.34 percent of the total electricity bill given to consumers by electricity distribution companies during the period.
“The total revenue collected by all Discos in 2021/Q4 was N210.17bn out of N303.11bn billed to customers – corresponding to a collection efficiency of 69.34 percent (70.89 percent in 2021/Q3),” the report noted.
READ ALSO:Nigerian Government moves to resolve electricity tariff shortfalls
In addition the report showed that “Compared to 2021/Q3, the total billing by Discos increased by N30.12bn (+11.03 percent) while the revenue collected increased by only N16.64bn (+8.60 percent), hence the reduction in overall collection efficiency in 2021/Q4.”
Market Remittances
NERC stated that the combined market remittance order adjusted invoices from the Nigerian Bulk Trading Company and Market Operator to Discos in 2021/Q4 was N210.72bn for generation costs as well as transmission and administrative services.
“Out of this amount, the Discos collectively remitted a total sum of N149.19bn with an outstanding balance of N61.53bn. This represents a remittance performance of 70.80 per cent during the quarter.”
Meanwhile, regarding remittance to NBET, it said out of the total invoice of N205.18bn issued by agency to Discos, it was expected to receive N160.13bn but it got only N109.45bn during the quarter.
It added that the total Disco remittance performance to NBET was 68.34 percent of the expected market remittance for 2021/Q4 compared to 65.08 per cent (N100.16bn remitted against an invoice of N153.90bn) in 2021/Q3,”
“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.”
NERC/Hauwa Abu
