The electricity distribution companies (DisCos) have raised revenue collection by N43 billion in the last one year, while reducing their Aggregate Technical, Commercial and Collection (ATC&C) losses to 45 percent.
With this, the power firms have responded to the yearning of the Nigerian Electricity Supply Industry (NESI) stakeholders that claimed that the losses were still persistent due to the distributors refusal to invest in Capital Expenditures (CAPEX) to raise their revenues.
A statement by the Association of Nigerian Electricity Distributors (ANED) on Tuesday said from October 2018 to June 2019, the 10 DisCos raised their energy revenue collection to N466bn.
They also raised their collection efficiency (capacity to collect money for energy supplied to customers) by 67 percent, according to the statement.
This was higher than the N423bn they collected from their customers between October 2017 and September 2018 when the collection efficiency was 65 percent.
ANED’s Director of Research and Advocacy, Barrister Sunday Oduntan stated that, “This is a reflection of DisCos’ commitment to reduce losses, even within the context of the financial crisis of the power sector.”
Oduntan noted that the DisCos, while increasing their collections by N43billion in a year, by a rate that represents over 10 percent of improvement, also raised billing efficiency by five percent during the period under review.
