The Nigerian Electricity Regulatory Commission (NERC) has disclosed that power distribution companies collected a total revenue of N193.53 biillion from consumers across the country in the third quarter of 2021.
In its third quarter 2021 report, released on Monday, the NERC stated that the 11 electricity distribution companies raked in over N193 billion during the three-month period.
The power sector regulator said, the money collected in the period under review was part of the N273 billion billed to customers, representing a collection efficiency of 70.89 per cent as compared to 68.89 per cent recorded in 2021/Q2.
The report further showed an increase of N8.24bn (+4.45 per cent) in total revenue collected, from N185.29bn recorded in 2021/Q2, and attributed the increase to the roll-out of meters under both the National Mass Metering Programme.
On market remittance, the NERC stated that the combined Market Operator invoice and Nigerian Bulk Electricity Trading Plc’s Market remittance order adjusted invoice to Discos in 2021/Q3 was N208.54bn for energy and administrative services.
It stated that out of this amount, the Discos collectively remitted a total sum of N141.69bn (N41.53bn for MO and N100.16bn for NBET), representing a remittance performance of 67.94 per cent during the quarter, with an outstanding balance of N66.85bn.
For the remittance to NBET, the NERC stated that out of the total invoice of N197.64bn issued by NBET to Discos, NBET was expected to receive N153.90bn under the MRT Order but it received only N100.17bn during the quarter.
The commission stated that during the third quarter of 2021, there were 26 grid-connected power stations consisting of 10 privatised legacy power plants, nine National Integrated Power Project plants, and seven Independent Power Plants.
It said four of the grid-connected plants were hydropower plants, while the rest were gas-fired thermal plants, adding that the available generation capacity for the 26 plants was 5,301.32 megawatts, representing a 9.45 per cent increase from 4,843.58MW1 recorded in 2021/Q2.
On the performance of the national grid, it stated that the stability of the grid network declined slightly with one total and partial system collapse that occurred on July 28 and August 23 2021 respectively, as against one total collapse in 2021/Q2.
