According to the Nigerian Electricity Regulatory Commission, power consumers paid a total of N210.17 billion to distribution companies in the fourth quarter of last year.
It revealed this in its Quarterly Report for the Fourth Quarter of 2021, which was released on Thursday, noting that the N210.17 billion represented 9.34 percent of the total electricity bill paid by consumers by electricity distribution companies during the period.
“The total revenue collected by all Discos in 2021/Q4 was N210.17 billion out of N303.11 billion billed to customers, corresponding to a collection efficiency of 69.34% (70.89 percent in 2021/Q3),” the regulator stated.
“Compared to 2021/Q3, total billing by Discos increased by N30.12bn (+11.03%) while revenue collected increased by only N16.64bn (+8.60%), resulting in a reduction in overall collection efficiency in 2021/Q4” it added.
In terms of market remittance, NERC stated that the combined market remittance order adjusted invoices from the Nigerian Bulk Trading Company and Market Operator to Discos in 2021/Q4 totaled N210.72 billion for generation, transmission, and administrative services.
“Of this amount, the Discos collectively remitted N149.19 billion, leaving an outstanding balance of N61.53 billion.” This equates to a remittance performance of 70.80% for the quarter.”
On remittance to NBET, it stated that it expected to receive N160.13bn out of the total invoice of N205.18bn issued by agency to Discos, but it only received N109.45bn during the quarter.
According to the FCCPC, purchasing transformers, poles, and other equipment is not the responsibility of electricity consumers.
“Overall, total Disco remittance performance to NBET was 68.34% of expected market remittance for 2021/Q4 compared to 65.08% (N100.16bn remitted against an invoice of N153.90bn) in 2021/Q3,” the NERC stated.
“During 2021/Q4, Eko and Jos Discos outperformed their MRT to NBET by 32.64 percent (+4.87 billion) and 0.86% (+0.03 billion), respectively,” it added.
The commission stated that for the remittance to the Market Operator, the total invoice from MO to Discos in 2021/Q4 for which a 100% remittance was expected was N50.58bn.
“However, only N39.75 billion was received from all the Discos, implying that the MO remittance performance for the quarter was 78.59 percent,” it said.
“This represents a 2.58 percentage point increase from the 2021/Q3 figure of 76.01 percent (N41.53 billion remitted against an invoice of N54.64 billion).”
Regarding remittances by special/international customers, the report stated that in 2021/Q4, the NBET and MO issued invoices of N380.62m and N82.53m to Ajaokuta Steel Company Limited, respectively, but no remittance was made by this special customer, as it had in the previous quarter.
“During the same period, MO issued an invoice of $13.111 million to bilateral customers (Paras-SBEE, TRANSCORP-SBEE, Mainstream-NIGELEC, and Odukpani-CEET),” the regulator stated.