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Discos’ Revenue Falls 25% As Unmetered Customers Increase

The number of electricity consumers without metres and hence under the much criticized estimated billings of Distribution Companies (DISCOS) increased by 190,000 or 3.34 per cent to 5.93 million in 2022 from 5.74 million in 2021.

But the number of metered customers rose faster, increasing by 351,792 or 7.4 per cent to 5.13 million in 2022 from 4.77 million in 2021.

However, revenue generated by electricity Distribution Companies (DISCOS) fell by 25 percent to N563.75 billion in 2022 from N761.16 billion in 2021, driven by a 39 per cent fall in energy supply.

The National Bureau of Statistics, NBS, disclosed these in its Electricity Report for Q1’22 to Q4’22. The report showed that the number of energy billed/supplied fell YoY 39 percent to 14,186 (GWH) in 2022 from 23,360 (GWH) in 2021.

The NBS in its report for Q4’22, said: “In terms of revenue, N232.32 billion was generated by the DISCOs in Q4’22 compared to N202.62 billion in Q3’22.

“On a year-on-year basis, revenue collected rose by 16.02 percent from N200.23 billion in Q4’21.

“Electricity supply in Q4’22 stood at 5,611 (Gwh) from 5,024 (Gwh) in Q3 2022, showing a rise of 11.68 percent.

“On a YoY basis, electricity supply declined by 3.5 percent compared to Q4’21.

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“On a YoY basis, customer numbers in Q4’22 rose by 5.17 percent from Q4’21 (10.51 million). Metered customers during the period stood at 5.13 million from 5.02 million in Q3’22, indicating a 2.0 percent growth rate.

“Nevertheless, on a YoY basis, this grew by 7.37 percent from 4.77 million in Q4’21.

“The number of estimated customers was 5.93 million in Q4’22, higher by 0.34 percent from the 5.91 million reported in Q3’22.

“On a year-on-year basis, this rose by 3.34 percent in Q4’22 from the figure reported in Q4’21. “In terms of revenue, N232.32 billion was generated by the DISCOs in Q4’22 compared to N202.62 billion in Q3’22.

“On a YoY basis, revenue collected rose by 16.02 percent from N200.23 billion in Q4’21.

“Electricity supply in Q4’22 stood at 5,611 (Gwh) from 5,024 (Gwh) in Q3’22, showing a rise of 11.68 percent.

“On a YoY basis, electricity supply declined by 3.48 percent compared to Q4’21.”

Source: Vanguard

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