DisCos Grow Revenue by 8% to N473bn in 2019

• DisCos Grow Revenue by 8% to N473bn in 2019

The nation’s Distribution Companies (DisCos) grew revenue by 8 percent or N35 billion to N473 billion in 2019, according to a report from the Association of Nigerian Electricity Distributors (ANED).

Accordingly, energy received during the period under review rose from 26,385 gigawatt-hours in 2018 to 26,630 in 2019 while the total energy billed stood at 21,702 GWh or N695 billion in value, up from 20,852 GWh or N662bn.

The association said DisCos collection hits N42.1 billion in December to set a new record of 71.4 percent collection efficiency for the fourth quarter.

It said, “The aggregate technical, commercial and collection loss (moving average) keeps improving and it is now at 44.6 per cent, although it is still far from Ikeja Electric’s new record (22 per cent in December 2019).

“Nevertheless, a few Discos are showing symptoms of fatigue in their ATC&C loss reductions, with a Disco deteriorating by a moving average of 4.7 points in 2019. Hopefully, this situation will revert soon and will not follow the path of Yola Electricity Distribution Company.”