The Nigerian Electricity Regulatory Commission (NERC) has revealed that the total revenue collected by all distribution companies (DisCos) in the second quarter of 2024 amounted to N431.16 billion.
On Thursday, NERC made this announcement via its website in the latest second quarter 2024 report, PulseNets learnt. According to the report, the N431.16 billion was collected from N543.64 billion billed to customers, representing a collection efficiency of 79.31 percent.
PulseNets learned that in comparison to the first quarter of 2024, DisCos collected N291.62 billion out of N368.65 billion billed, showing a collection efficiency of 79.11 percent.
The report disclosed that Ikeja and Eko DisCos achieved the highest collection efficiencies of 94.67 percent and 88.03 percent, respectively.
“Yola DisCo recorded the lowest collection efficiency of 55.67 percent. A comparison of DisCos performance in Q1 and Q2 showed that six DisCos recorded improvements in collection efficiency,” it told PulseNets.
In addition, PulseNets learned that NERC issued 18 licences, permits, and certifications during the quarter under review. These included five new off-grid generation licences with a total capacity of 12.36 Megawatts (MW).
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The commission also granted “two on-grid generation licences with a gross capacity of 66MW, one new electricity trading licence, and one system operator licence. One captive generation permit with a capacity of 5MW, six certifications for Meter Service Providers, and two permits for Meter Asset Providers,” the report concluded.
