Discos record revenue of N41bn growth in Q4 2022 – NERC
By Felicia Nwosu
With over 2 million registered energy customers in the fourth quarter of last year, the Nigerian Electricity Regulatory Commission has reported that the distribution companies’ tariff witnessed a massive growth of N41bn in its revenue in its 4th quarter of 2022.
NERC stated that the impressive financial growth is the total revenue collected by all Discos in Q4 2022, was about N244bn out of N332bn billed to customers, translating to a collection efficiency of about 73 percent compared to 72 percent in Q3 in the same year. For the period under review, the total billing was up N41bn (about 14 per cent) to N332bn and total collections increased by N33bn (about 16 percent) to N244bn.
According to NERC, the utility firms were able to rake in extra revenue as a result of billing efficiency increasing to 76 percent in Q4 2022 compared to 75.6 percent recorded in the prior quarter.
The total energy received by all Discos during the period under review was 7,661.97GWh while the energy billed to end-use customers was 5,835.62GWh.
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