DisCos Remitted N378bn To Electricity Market, Installed 185,439 Meters In Q4 —NERC
All 11 electricity distribution companies, also known as DisCos, remitted the sum of N378.93 billion to the electricity market in the fourth quarter of 2024, a report from the Nigerian Electricity Regulation Commission (NERC) has said.
The remitted amount was part of the N408.86bn invoice for the fourth quarter of 2024.
A breakdown of the remitted N378.93bn from the N408.86bn invoice leaves an outstanding balance of N29.92bn.
‘’In 2024/Q4, the cumulative upstream invoice payable by DisCos was ₦408.86bn, consisting of ₦360.97bn for DRO-adjusted generation costs from NBET2 and ₦47.89bn for transmission and administrative services by the Market Operator (MO).
“Out of this amount, the DisCos collectively remitted a total sum of ₦378.93bn (₦336.63bn for NBET and ₦42.30bn for MO) with an outstanding balance of ₦29.92bn.
“This translates to a remittance performance of 92.68 per cent in 2024/Q4 compared to the 83.77 per cent recorded in 2024/Q3,” the report said.
Also, during the period under review, a total of 185,439 meters were installed.
According to the report, this represents a marginal increase of 0.19 per cent compared to Q3 2024, when 185,087 meters were installed.
The report noted that the new installations led to a 0.42 percentage point (PP) increase in the net end-user metering rate across all Electricity Distribution Companies (DisCos).
It said the number of installed meters rose from 46.15 per cent in Q3 2024 to 46.57 per cent in Q4 2024.
“During the quarter, 179,064 metres, representing 96.56 per cent of the total installations, were installed under the Meter Asset Providers (MAP) framework, while 4,076 meters were installed under the Meter Acquisition Fund (MAF).
“Also, 1,924 meters were installed under the vendor-financed framework, while 374 meters were installed under the DisCo-financed framework,” it said.
DisCos Remitted N378bn To Electricity Market, Installed 185,439 Meters In Q4 —NERC is first published on The Whistler Newspaper
