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Discos Make ₦‎296 Billion In Three Months – NERC Report - Politics - Nairaland

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Discos Make ₦‎296 Billion In Three Months – NERC Report by TheLawAsItIs: 10:52am On Jan 06, 2023

Power distribution companies raked in about N296bn as electricity bills from customers in the first quarter of 2022, the Nigerian Electricity Regulatory Commission said on Thursday.

In its just released first quarter 2022 report, the power sector regulator stated that the collection efficiency of the Discos was 67.36 per cent during the quarter under review.

‘This corresponds to a collection efficiency of 67.36 per cent, which represents a 1.98 percentage point reduction compared to 2021/Q4, where the average collection efficiency was 69.34 per cent.

“In monetary terms, although the billing in 2022/Q1 reduced by N7.41bn (-2.44 per cent), revenue collections reduced at a higher rate of N10.98bn (-5.22 per cent).”

The commission said it was imperative for Discos to employ technologies and operational procedures to increase both their billing and collection performances to forestall long term financial challenges.

“These could include holistic energy accounting procedures, customer and infrastructure metering, etc,” the NERC stated.

On market remittance, the commission said the combined invoices from the Nigeria Bulk Electricity Trading Plc and the Market Operator to Discos in 2022/Q1 was N205.63bn.

It said the invoices were split as follows: generation costs – N164.86bn; and transmission and administrative services – N40.77bn.

This came as the Transmission Company of Nigeria announced on Thursday that it took delivery of two 150MVA, 330/132/33kV power transformers and accessories at its Central Store Ojo, Lagos State.

Explaining the collection efficiency of Discos in Q1, 2022, the NERC said, “The total revenue collected by all Discos in 2022/Q1 was N199.9bn out of N295.69bn billed to customers.

https://punchng.com/discos-make-n296bn-in-three-months-nerc-report/#Echobox=1672997283-1

2 Likes

Re: Discos Make ₦‎296 Billion In Three Months – NERC Report by Kobicove(m): 11:38am On Jan 06, 2023
How much of it is actual profits? undecided

9 Likes 1 Share

Re: Discos Make ₦‎296 Billion In Three Months – NERC Report by Sebastine1994(m): 11:38am On Jan 06, 2023
Any news of Andrew Tate?

What's the color of your boxers

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Re: Discos Make ₦‎296 Billion In Three Months – NERC Report by HigherEd: 11:38am On Jan 06, 2023
Omo this people are making serious cash.

1 Like

Re: Discos Make ₦‎296 Billion In Three Months – NERC Report by pikechukwu6(m): 11:38am On Jan 06, 2023
Noted
Re: Discos Make ₦‎296 Billion In Three Months – NERC Report by BigDawsNet: 11:38am On Jan 06, 2023
Oya use the money pay part of the country debts

1 Like

Re: Discos Make ₦‎296 Billion In Three Months – NERC Report by KingOfTheDamned: 11:39am On Jan 06, 2023
The scammer incharge of PHED Dr Uweh is just a fraudster .

They sell band allocation in Phed to areas where they get bribed to supply good power supply and even if you raise the matter up nothing is done.

Phed In rivers state is just terrible. After removing De Henry Ajagbawa everything has gone to hell in PHED ... This Uweh is a stupid useless idiot whom they just put there as a figure head... His managers are running the company as they like

3 Likes

Re: Discos Make ₦‎296 Billion In Three Months – NERC Report by oluwaseyi0: 11:40am On Jan 06, 2023
HigherEd:
Omo this people are making serious cash.

Wait until you hear there running cost

2 Likes 1 Share

Re: Discos Make ₦‎296 Billion In Three Months – NERC Report by HigherEd: 11:41am On Jan 06, 2023
oluwaseyi0:


Wait until you hear there running cost
True there's that.
Re: Discos Make ₦‎296 Billion In Three Months – NERC Report by yesloaded: 11:41am On Jan 06, 2023
If there's adequate metering and constant supply of electricity, they will definitely take in trillions of Naira

I couldn't finish up 5,000naira recharge since last year January because some months, I won't even enjoy cummulative of 1hr of power supply

98 of my neighbour now use solar both mini & moderate ones based on their capability infact some disconnect NEPA completely to avoid disturbance from their staff

10 Likes 1 Share

Re: Discos Make ₦‎296 Billion In Three Months – NERC Report by FireUpNow(m): 11:41am On Jan 06, 2023
Too much estimated bills

3 Likes

Re: Discos Make ₦‎296 Billion In Three Months – NERC Report by tommy589(m): 11:41am On Jan 06, 2023
In recent times some discos are doing well in electricity supply
Re: Discos Make ₦‎296 Billion In Three Months – NERC Report by maramara: 11:42am On Jan 06, 2023
This is just bills and not the actual money paid, about 67% of the bills was realised according to the report

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Re: Discos Make ₦‎296 Billion In Three Months – NERC Report by milky3(f): 11:42am On Jan 06, 2023
Why won't they? With their exorbitant charges

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Re: Discos Make ₦‎296 Billion In Three Months – NERC Report by Parachoko: 11:43am On Jan 06, 2023
When people ask dem why power supply never better all over Nigeria, dem go talk say dem no dey make enough money.

4 Likes

Re: Discos Make ₦‎296 Billion In Three Months – NERC Report by ATEAMS: 11:45am On Jan 06, 2023
Wow
Re: Discos Make ₦‎296 Billion In Three Months – NERC Report by EbiJUNIRO(m): 11:45am On Jan 06, 2023
Omor!!!

And yet no light. Imagine how much they will rake if there is constant electricity and tariff is paid regularly.

Thiefs
Re: Discos Make ₦‎296 Billion In Three Months – NERC Report by sterlingD(m): 11:45am On Jan 06, 2023
Did you all notice Tariff was increased shortly before Christmas?

3 Likes

Re: Discos Make ₦‎296 Billion In Three Months – NERC Report by seunny4lif(m): 11:48am On Jan 06, 2023
This people are cashing out like this and yet we can’t have 24 hrs electricity like normal nation.

This is serious
Re: Discos Make ₦‎296 Billion In Three Months – NERC Report by Lukuluku69(m): 11:48am On Jan 06, 2023
TheLawAsItIs:


https://punchng.com/discos-make-n296bn-in-three-months-nerc-report/#Echobox=1672997283-1

So much money for supplying darkness.

1 Like

Re: Discos Make ₦‎296 Billion In Three Months – NERC Report by emorse(m): 11:51am On Jan 06, 2023
Understated figures
Re: Discos Make ₦‎296 Billion In Three Months – NERC Report by omoadeleye(m): 11:53am On Jan 06, 2023
Kobicove:
How much of it is actual profits? undecided


Government businesses doesn't work to make profit, they can only make money to run their operations.
Re: Discos Make ₦‎296 Billion In Three Months – NERC Report by SIMONEKPA7: 11:53am On Jan 06, 2023
Profit or operating expenses...pls specify
Re: Discos Make ₦‎296 Billion In Three Months – NERC Report by Kobicove(m): 11:56am On Jan 06, 2023
omoadeleye:



Government businesses doesn't work to make profit, they can only make money to run their operations.

Discos are not government owned businesses, they are private enterprises!
Re: Discos Make ₦‎296 Billion In Three Months – NERC Report by chloride6: 11:58am On Jan 06, 2023
That collection efficiency is too low..

It’s very skewed by high collection rates by EKEDC and IBEDC which are large consumers.

Places like Yola Electric have less than 45 percent collection rate..to put that into context the margin for DISCO is only 22 percent..

Meaning that someone (the FG) will eventually have to step into the gap of paying that uncollected rate.

1 Like

Re: Discos Make ₦‎296 Billion In Three Months – NERC Report by olahero(m): 12:00pm On Jan 06, 2023
Hmm
Re: Discos Make ₦‎296 Billion In Three Months – NERC Report by IbeOkehie: 12:01pm On Jan 06, 2023
This is an inflammatory news report. Revenue is not profit. That should be very easy to understand for any educated and reasonable person.

The Discos don't control the price at which they BUY electricity or SELL electricity. The price of access to Kainji dam and the price of natural gas is also regulated. The government dictates all those prices and even approves the budgets of the Discos.

The central electricity distribution company is called TCN and it's 100% owned by the government. I think government also owns 49% of each Disco. Make una look the thing well, who REALLY controls electricity in Nigeria if not government. undecided

The solution to the electricity industry problems is decentralization, complete privatization and deregulation of prices.

If there was a way to encourage the mass adoption of solar systems for homes, that would also help. For now solar systems are just too expensive for most consumers or homeowners. Costs are coming down but S L O W L Y.

It's hard to get Nigerians to collaborate. The more decentralized and individualized the system, the better. So each person or family can bear their own costs. The record is clear, public controlled systems don't work in Nigeria.

Las Las, let government take back all the electricity industry and revamp NEPA and provide free electricity for all. That's their duty under Chapter 2 of the Constitution.

2 Likes

Re: Discos Make ₦‎296 Billion In Three Months – NERC Report by Nobody: 12:06pm On Jan 06, 2023
How much are they owing gas sellers?
Re: Discos Make ₦‎296 Billion In Three Months – NERC Report by justmondris: 12:07pm On Jan 06, 2023
More than 50% of that amount was collected by extorting their customers.

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