Despite unstable and inadequate supply, consumers of electricity in Nigeria paid N126.14 billion as tariff to 11 Electricity Distribution Companies, DISCOs, in the fourth quarter of 2019, according to Nigerian Electricity Regulatory Commission, NERC.
“These denote 82.59% and 69.44 percent billing and collection efficiency respectively, indicating 1.00% and 0.45 percent points increases respectively when compared with the third quarter of 2019. The level of collection efficiency during the quarter under review indicates that as much as N3.06 out of every N10 worth of energy sold during the fourth quarter of 2019 remained uncollected from consumers as and when due.
“The severity of the liquidity challenge in NESI was reflected in the settlement rates of the energy invoices issued by NBET to each of the DisCos as highlighted above, as well as the non-payment by the special and international customers. During the quarter under review, whereas Ajaokuta Steel Co. Ltd and environ made no payment to the market.”“The international customers paid a total sum of N10.26billion and N2.98billion to NBET and MO respectively.
It is noteworthy that tariff shortfall has partly contributed to liquidity challenges being experienced in the industry.”The commission, which stressed the need for the DISCOs to improve their remittance capacity, stated: “The DISCOs need to improve on their performance. Whereas DisCos were expected to make a market remittance of 43.62 percent during 2019/Q4, only a 38.32% settlement rate was achieved within the timeframe provided for market settlement in the Market Rules.
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