The Nigerian Electricity Regulatory Commission said power distribution companies made about N296bn from electricity bills from customers in the first quarter of 2022.

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This was revealed in a report covering the first quarter of 2022.

The NERC stated that the collection efficiency of the Discos was 67.36 per cent during the quarter under review.

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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 in 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.

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“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 Discos needed to employ technologies and operational procedures to increase both their billing and collection performances to forestall long-term financial challenges.

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

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