Electricity distribution companies in Nigeria made N291.62bn in the first quarter of 2024 despite widespread blackout in some parts of the country.
was even as the nation lost 673 megawatts of power generation capacity due to gas shortages during the period, according to The Punch.
The Nigerian Electricity Regulatory Commission reported in a stated that the Discos’ revenue for the first three months of the year came from N368.65 billion in bills to customers.
“The total revenue collected by all Discos in 2024/Q1 was ₦291.62bn out of ₦368.65bn billed to customers. This translates to a collection efficiency of 79.11 per cent which represents an increase of +5.32 percentage points when compared to 2023/Q4 (73.79 per cent),” NERC stated.
According to the report, the nation’s average available generation capacity for the quarter was 4,249.10 MW, down 673.16 MW or 13.68 per cent from the 4,922.26 MW recorded in the fourth quarter of 2023 across all 27 facilities.
It said 17 out of the 27 grid-connected plants recorded decreased available generation capacities in Q1 2024 compared to Q42023.
The average energy offtake by the DisCos at their trading locations for the period under review was 3,283.87 megawatt-hours, which is 429.29 MWh/h less than the 3,713.16 MWh/h reported in Q42023.
The total energy received by all Discos in 2024/Q1 was 7,171.93 gigawatt-hours, while the energy billed to end-use customers was 5,769.52GWh, translating into an overall billing efficiency of 80.45 per cent. This represents an increase of two per cent relative to the 78.45 per cent recorded in the last quarter of last year.
