Transcorp Power Plc has generated N105.4bn in the first quarter of 2025, driven by expensive electricity tariff bands and improved power generation.
The revenue marks a surge of 55 per cent from the N67.9bn generated in the first quatre of 2024.
The company said, “This strong performance was primarily driven by an increased available capacity of 625MW compared to 500MW in Q1, 2024.
“This growth has been achieved notwithstanding the liquidity challenges in the sector, showcasing our commitment to closing the power supply gap in the country.”
The Q1 performance reveals that the company’s pretax profit rose by 50 per cent from N28.8bn in 2024 to N43.3bn in 2025.
The firm said the growth in profit reflects improvements in cost efficiency and operational excellence.
Transcorp Power Plc Chief Executive Director, Peter Ikenga said the firm scaled through prevailing economic challenges to post the growth.
Ikenga said, “We delivered a strong performance in Q1 2025, reflecting our disciplined execution, reliable operations, and unwavering focus on efficiency.
“Despite the challenges impacting the sector, we continue to optimise our generating capacity from 500MW in Q1 2024 to 625MW in Q1 2025.
“We remain firmly committed to delivering long-term value for our shareholders while powering progress across Africa”.
The revenue also comes from higher tariffs rate after the Nigerian Electricity Regulatory Commission’s (NERC) introduced a Service-Based Tariff (SBT) system, Band A, Band B, and Band C represent different levels of electricity supply.
Band A gets a minimum of 20 hours of electricity supply per day; Band B is also entitled to a minimum of 16 hours of electricity supply per day.
Similarly, Band C customers get a minimum of 12 hours of electricity supply per day.
Band A customers pay N225 per kilowatt-hour, while Band B and Band C customers pay N63/kw, and N50/kw respectively.
