Electricity distribution companies in June 2024 collected N150.86 billion in revenues, achieving an 85.44% collection efficiency rate.
This was disclosed in the fact sheet on electricity distribution companies’ performance in the month published by the Nigeria Electricity Regulatory Commission, according to Nairametrics.
Ikeja led with the highest revenue at N30.06 billion and a billing efficiency of 102.44%, followed by Eko DisCo with a 97.07% billing efficiency and N26.37 billion collected.
Benin DisCo had the third highest billing efficiency at 89.49%, while Abuja DisCo collected N24.29 billion.
Yola DisCo had the lowest revenue and collection efficiency at 60.81%, with N3.08 billion collected. Jos and Kaduna DisCos followed with 62.03% and 66.46% efficiency rates, respectively. Yola, Jos, and Kaduna DisCos collected N3.08 billion, N4.96 billion, and N5.01 billion respectively.
The DisCos billed 1,850.73 GWh of the 2,190.12 GWh of electricity received, achieving an energy billing efficiency of 85.44%. Enugu DisCo had the highest billing efficiency at 95.63%, while Kaduna, Jos, and Kano DisCos had the lowest at 63.7%, 71.49%, and 79.03%, respectively.
This revenue increase follows the April 2024 electricity tariff hike of over 200% for Band A users, who represent about 17% of consumers.
According to the NERC, the recent tariff increases applied only to customers receiving at least 20 hours of electricity daily.
In February, electricity distribution companies collected N97.01 billion out of a billed N113.05 billion.
Ikeja DisCo led with a revenue collection efficiency of 114.64%, gathering N19.48 billion from a billed N17.08 billion.
Eko and Abuja DisCos followed, with efficiencies of 99.24% and 87.26%, respectively.
