DisCos record N127 billion energy collection in first quater of 2020
The electricity Distribution Companies, DisCos, yesterday, announced that they have recorded an increase in revenue collection to the tune of N127 billion in the first quarter of 2020.
The companies, which disclosed this in a statement through the umbrella body, Association of Nigerian Electricity Distributors, ANED, in Abuja, said, the collections account for over 10 percent improvement in its energy revenue collection efficiency in the period under review.
The ANED in the statement issued by the Executive Director, Research and Advocacy, Barrister Sunday Oduntan, said: “The collection milestone in the first quarter of 2020 hit a new record with N127 billion revenue collection increase, which is above 10 percent improvement over the same quarter in 2019.”
While the DisCos were billed N187bn for 5,768 Gigawatts hour, GWh, ANED said the DisCos, through heightened revenue collection drive, collected N127bn at 68 percent collection efficiency rate in the first three months of 2020.
Also Read: WORLD BANK APPROVES $750M FOR POWER SECTOR
However, the DisCos decried the slight reduction of the energy they received during the period to supply to customers, contrary to the expectations projected in the 2019 minor review.
Oduntan while further stating the improvement in the DisCos’ performance, noted that in the past 12 months, DisCos improved the Nigerian Electricity Supply Industry, NESI, yearly collection by N39 billion, reaching a total of N485 billion, with a collection efficiency of 69%.
He said, “The Aggregate Technical, Commercial and Collection (ATC&C) losses continue to decrease due to a better performance of the DisCos only. In this regard, if DisCos were receiving more power in the good commercial areas, the ATC&C losses would decrease even more substantially.”
A breakdown of the performance improvement captured in their presentation at the Public Hearing by the Senate Committee on Power on Tuesday, showed that power generation slightly dipped.
While the DisCos received 26,565GWh of energy between April 2018 and March 2019, the energy quantum only rose by 0.1 percent to 26,590GWh from April 2019 to March 2020.