The collection of revenue from users of electricity across the country by power distribution companies has increased to N466bn, the Association of Nigerian Electricity Distributors announced on Tuesday.
ANED said Discos had raised electricity revenue collection by N43bn in the last one year, while reducing their aggregate technical, commercial and collection losses to 45 per cent.
It stated that the 10 Discos under the umbrella body of ANED increased the collection of revenue for the industry to N466bn from October 2018 to June 2019.
The association’s Director, Research and Advocacy, Sunday Oduntan, said the Discos also raised their collection efficiency (capacity to collect money for energy supplied to customers) by 67 per cent.
This was higher than the N423bn they collected from their customers between October 2017 and September 2018 when the collection efficiency was 65 per cent.
“This is a reflection of Discos’ commitment to reduce losses even within the context of the financial crisis of the power sector,” Oduntan stated.
He observed that the Discos, while increasing their collections by N43bn, also raised billing efficiency by five per cent during the period under review.
The ATC&C of the power firms was 49 per cent in 2018 and was reduced to 45 per cent in 2019.
Oduntan noted that the reduction was significant, relative to a starting point of 54 per cent during the handover from government to private investors.
This, he said, was also within the context of liquidity challenges and lack of access to capital for investment.
On the energy delivered to the Discos, ANED stated that customers were billed for 20,600 gigawatts hour of energy from 2017 to 2018, amounting to N650bn, of which N423bn was collected.