TCN rakes N137b from DisCos in 2024
Business Economy

TCN rakes N137b from DisCos in 2024

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From Our Correspondent

The Electricity Distribution Companies (DisCos) paid the sum of N137.06 billion to the Transmission Company of Nigeria (TCN) between January and September of 2024 as transmission and administrative charges.

TheNewsZenith reports that this was despite the frequent collapsing of grid infrastructure, which collapsed more than 12 times last year.

According to the latest edition of its quarterly report, the Nigerian Electricity Regulatory Commission (NERC) billed the DisCos N162.7 billion.

DisCOs ultimately passed the amount on to consumers for the electricity delivered to them during the period.

According to quarterly reports, the DisCos paid N137.06 billion out of the bill, leaving an outstanding balance of N25.64 billion.

In the first quarter of 2024, DisCos remitted N45.10 billion out of the market operator’s invoice of N48.16 billion.

Between April and June, they remitted N46.78 billion against a cumulative invoice of N55.77 billion.

In the third quarter, the 11 DisCos remitted N45.18 billion against a cumulative invoice of N58.77 billion.

Ikeja and Ibadan DisCos recorded the highest remittance performances in the first quarter, with 105.79 per cent and 100.00 per cent, respectively.

Kaduna and Yola DisCos recorded the lowest performances at 47.54 per cent and 46.39 per cent, respectively.

In the second quarter, remittance performance declined to 83.88 per cent, representing a 9.76 per cent drop from the 93.64 per cent recorded in the first quarter.

The disaggregated performance data showed Yola and Eko DisCos achieving the highest remittance rates of 149.99 per cent and 95.92 per cent, respectively.

TheNewsZenith reports that conversely, Kaduna DisCo recorded the lowest rate at 21.84 per cent.

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Apart from Yola and Eko DisCos, the remaining nine DisCos experienced declines in remittance performance.

Jos, Kaduna and Kano DisCos recorded the most significant drops at -32.77 per cent, -25.70 per cent and -22.40 per cent, respectively.

In the third quarter, the DisCos’ remittance performance further declined to 76.88 per cent.

This represents a seven per cent drop from the 83.88 per cent recorded in the second quarter.

Ikeja, Abuja and Yola DisCos recorded the highest remittances of 94.80 per cent, 87.42 per cent and 86.34 per cent, respectively.

On the other hand, Kaduna DisCo recorded the lowest performance at 16.94 per cent.

Meanwhile, TCN has announced the rationing of power supply to customers of the Abuja Electricity Distribution Company (AEDC) in parts of the FCT up to Jan. 20.

TCN’s General Manager, Public Affairs, Mrs Ndidi Mbah, said in a statement in Abuja that the rationing was due to a road dualisation project along the Apo axis.

TheNewsZenith gathered that the Federal Capital Development Authority (FCDA) is executing the road project.

Because of the project, Mbah said TCN would relocate eight 132-kilovolt (kV) and 33kV towers along the Kukwaba/Apo 132kV line (Outer Southern Expressway route).

Areas where the rationing would affect are Kubwa, Karu, Maraba, Nyanya, Masaka, Keffi, Kukwaba and Apo Mechanic.

Also, parts of Lugbe, Trademore Estate, Pyakasa, Sabon Lugbe, Chika, and the Alaita axis will also experience power rationing.

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