The total amount of revenue generated by electricity distribution companies rose by 20.81 per cent despite a drop of 1.74 per cent in supply, according to the new Electricity Report for the first quarter of 2023 by the National Bureau of Statistics.
According to the report, a year-on-year analysis showed that Discos collected N247.33bn as revenue in Q1 2023, which is higher than the N204.74bn recorded in Q1 2022.
However, the electricity supply was 5,852 Gigawatt hours in Q1 2023, down from 5,956 Gwh reported in Q1 2022. The report also indicated that Discos collected N232.32bn in Q4, 2022, bringing the total revenue raked in by the companies in six months to N479.65bn.
The report read in part, “Revenue collected by the Discos during the period was N247.33bn from N232.32bn in Q4 2022. On a year-on-year basis, revenue generated in the reference period rose by 20.81 per cent from N204.74bn recorded in Q1 2022. “Electricity supply was 5,852 (Gwh) in Q1 2023 from 5,611 (Gwh) in the previous quarter. However, on a year-on-year basis, electricity supply declined by 1.74 per cent compared to 5,956 (Gwh) reported in Q1 2022.”
