Discos generate N263.08bn in revenue amidst electricity supply challenges

Discos generate N263.08bn in revenue amidst electricity supply challenges

generate N263.08bn in revenue amidst

Electricity distribution companies generated N263.08 billion in revenue in the second quarter of this year.

The figure was 39.6 percent higher than the N188.4 billion the generated in the corresponding period of last year.

It was also 6.34 percent higher than the N247 billion posted by the companies in the first quarter of this year.

According to the Q2 turnover data obtained by Ripples on Friday, the Discos generated the amount from 11.47 million customers during the period.

The number of customers increased by 1.84 percent quarter-on-quarter from 11.27 million in Q1 2023.

However, the total number of customers went up by 6.17 percent on a year-on-year basis from the 10.81 million reported in Q2 2022.

The customers were split into metered and estimated billing users with the former pegged at 5.47 million and the latter six million at the end of Q2 2023.

Ripples gathered that between April and June, metered customers rose by 3.10 percent on a quarter-on-quarter basis from 5.31 million in Q1 this year and 10.40 percent year-on-year from 4.96 million in Q2 last year.

READ ALSO: Blackout continues as DisCos waste 2,495.3MW of electricity, enough to power 20m homes

Similarly, the number of estimated customers increased from 5.96 million (0.72 percent) in Q1 2023.

It also rose by 2.58 percent year-on-year from 5.85 million in Q2 2022.

Furthermore, a total of 5,909.83 gigawatt-hours (Gwh) of electricity were supplied by the Discos in Q2 2023, higher than the 5,226.97 Gwh reported in the same period in 2022 and 5,851.87 Gwh for Q1 2023.

Despite the claim by the companies, however, the problem of erratic power supply still persists across the country with many consumers enjoying less than four hours of electricity supply per day.

The problem persisted due to the systemic that had eaten deep into the nation's power sector.

Many businesses have closed shops ostensibly because of the cankerworms that have dragged the industry to its knees and left groaning under constant blackouts.

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