The Nigerian Electricity Regulatory Commission (NERC) yesterday revealed that the 11 electricity Distribution Companies (DisCos) of the Nigerian Electricity Supply Industry (NESI) collected N1.07trillion in 2023.
The energy distributors, said NERC, failed to collect N385.83billion out of the total N1.46 trillion electricity bills for the year.
This culminated in 73.64per cent collection efficiency in the year under review, according to NERC document titled: “2023 Annual Report and Account.”
NERC said: “The total billings to electricity consumers by the DisCos was N1,463.24 billion of which only N1,077.51 billion was collected, leaving a total outstanding of N385.73 billion and corresponding to a collection efficiency of 73.64per cent.”
On Market Remittances by DisCos, the report said in 2023, a total invoice of ₦858.033billion was issued to all the DisCos for energy received from NBET and for service charges by the MO, out of which a sum of ₦706.73 billion was settled by DisCos, leaving a total deficit of ₦151.30 billion in the market.
NERC said this payment translates to an overall remittance performance of 82.37 per cent.
