The Nigerian Electricity Regulatory Commission (NERC) has said that distribution companies (DisCos) collected N267bn revenue in the second quarter of 2023.
The amount represents collection efficiency of 75.54 per cent for the quarter out of the total billing amounting to N354.61bn.
NERC disclosed this on Tuesday in its Electricity on Demand Report.
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The Report attributed the surge in the revenue collection to the increase of the metering effort of DisCos as they ensured more accurate measurement of electricity consumption.
Another vital reason the report cited was how DisCos initiated different collection campaigns targeting post-paid customers, encouraging timely payment of bills.
The distribution companies also recorded milestones in the aspect of remittance of combined upstream bills that they owed which amounted to N194.69Bn.
The N194.69bn is made up of N154bn for generation costs from the Nigerian Bulk Electricity Trading (NBET) and N40.65bn for transmission and administrative services facilitated by the Market Operator (MO).
The DisCos remitted a total of N185.36b. A breakdown shows that N152.48bn for NBET and N32.88bn was paid for MO. This represents 95.21 per cent market remittance in Q2, 2023.