According to the orders signed by the chairman, Sanusi Garba and the Commissioner, Legal, Licencing and Compliance, Dafe Akpeneye on April 29, 2021, the approved PIP is expected to start by July 1, 2021 and end by June 30, 2026.
There are anticipations of a tariff increase as the DisCos could only generate the N756bn fund through the tariff.
NERC recently announced it is reviewing the Multi Year Tariff Order (MYTO) 2020 tariff and could implement the result on July 1, just as the Minister of Power, Engr. Sale Mamman, clarified in a statement that the increase would not be significant.
According to the information contained in separate orders to the 11 DisCos, the highest fund approval went to Ikeja DisCo as it got N121.9bn to implement its network improvement target. It was followed by Kaduna DisCo with N114bn target; Eko DisCo is the third with N93.76bn expenditure while Benin DisCo will spend N93.5bn on these investments.
Liquidity: Electricity sector generates N272.47bn in six months
On DISCOs collection efficiency Q3’20
By Obas Esiedesa
Electricity market revenue grew by 10.55 per cent to N272.47 billion in the second half (July-December) 2020, compared to N246.46 billion generated in the corresponding period of 2019, according to the latest industry data obtained by Energy Vanguard.
The growth followed an intervention from the Presidency through the Central Bank of Nigeria, which imposed restriction on revenue collection bank accounts of Electricity Distribution Companies, DisCos.
The intervention meant that the bank accounts were locked, with cash allowed to come in but withdrawals by DisCos blocked.
Over the years, the DisCos have been accused by other industry operators of spending the industry’s revenue on their own operations to the detriment of others.
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Electricity: How infrastructure, lack of liquidity, others cripple supply to consumers Investigation
On As Consumers kick over high estimated bills
By Udeme Akpan
Despite the rise in average electricity sent out year-on-year, YoY, from 90,098.1 megawatts, mw, in 2019, to 94,274.9 mw in 2020, indicating an increase of 4.64 per cent, lack of infrastructure, inadequate liquidity and other problems continue to disrupt the transmission and distribution of adequate electricity to consumers nationwide.
Specifically, the third quarter Nigerian Electricity Supply Industry, NESI, key operational and financial data obtained by Energy Vanguard from the Nigerian Electricity Regulatory Commission, NERC, weekend, showed that the delivery to consumers was constrained mainly by issues that have to do with transmission and dist
62 63% electricity consumers on estimated billing - NERC - National Accord Newspaper nationalaccordnewspaper.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nationalaccordnewspaper.com Daily Mail and Mail on Sunday newspapers.
62.63% electricity consumers on estimated billing, says NERC
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The Nigerian Electricity Regulatory Commission (NERC) on Friday said 62.63 per cent of electricity consumers in the country were on estimated billing as at September 2020.
NERC stated this in the 2019 to Quarter 3, 2020 Nigerian Electricity Supply Industry (NESI) Key Financial and Operational Data, obtained from its website by the News Agency of Nigeria (NAN) in Lagos.
The document showed that only Eko Electricity Distribution Company and Ikeja Electric Plc had metered over 50 per cent of their customers as at the review period.
The huge metering gap for electricity customers, according to NERC, remains a key challenge in the industry.