By Ediri Ejoh

THE remittances of 11 electricity distribution companies, DISCOs, to the Nigerian Bulk Electricity Trading PLC (NBET) has declined by over 15.71 per cent to N33.33 billion in January 2023, from N38.88 billion in the corresponding period of 2022.

According to the latest monthly report of the NBET, the DISCOs were issued an invoice of N76.23 billion in January 2023, but could raise only N33.33 billion, about 59.01 per cent.

With the implementation of NERC’s order on Regulatory Net Offs, only Yola DISCO satisfied the requirements of the Minimum Remittance Order, as subsequent payments are expected from DISCOs with outstanding Maintenance, Repair, and Operations, MRO payments.

The N76.23 billion NBET invoice represents the value of electricity supplied to Nigerian consumers within the period, while N33.33 billion represents the payments collected by DISCOs from electricity consumers.

According to the agency, “DISCOs’ expected overall payment performance (based on the Minimum Remittance Order by NERC) is 89.22 percent but overall DISCO payment performance achieved at the time of generating this report is 59.01 percent representing 66.14 percent of the MRO requirements.

“However, for DISCOs that have surpassed the month’s Minimum Remittance obligation, a review of the annual performance will be carried out in respect of the excess payment.

Commenting on the data, Mr. Adetayo Adegbemle, Convener and Executive Director, PowerUp Nigeria, an Electricity Consumer Right and Power Sector Policy Advocacy organization, lamented that the high collection figures did not impact on the quality of service being delivered to consumers.

He said: “The power sector has defied almost every intervention from every angle. It is apparent that without a stable grid electricity, industries will continue to die, jobs also die with it.

“Nigeria remains a consuming economy, as local manufacturers cannot compete, as the cost of energy alone will make their final prices impracticable. The economy will therefore continue to bleed, meanwhile we are not even taking into cognizance of our population that keeps increasing.

“Like the maxim goes, an energy poor nation is a poor nation.”