Uncollected revenue of the electricity Distribution Companies also known as the DisCos deepened by a whopping N60 billion in December 2024, further aggravating the liquidity challenges being faced by the firms.
Statistics culled from the Nigerian Electricity Regulatory Commission (NERC) revealed that the utility companies were unable to retrieve a total of N60.25 billion from customers in December 2024 out of N238.21 billion billed to them for electricity.
This translates to N177.96 billion in revenue collected during the period under review, a collection efficiency of just 74.71 per cent.
As of 2024/Q3, total revenue collected by all DisCos in 2024/Q3 was โฆ466.69 billion out of โฆ626.02 billion billed to customers. This translates to a collection efficiency of 74.55%, representing a decrease of -4.76pp compared to 2024/Q2 (79.31%).
The spokesperson for the DisCos umbrella body, the Association of Nigerian Electricity Distributors (ANED), Sunday Oduntan had severally argued how the inability to collect billed revenue impacts the entire electricity value chain. (Channels)