As figures of estimated billing customers drop, DisCos’ 2023 revenue surges by N34bn to N294bn

The number of estimated billing customers in the fourth quarter of 2023 dropped by 3.34% from 6.03 million to 5.83 million data gleaned by Ripples Nigeria from the Electricity Report Q4 2023 recently released by the National Bureau of Statistics (NBS) has shown.

Similarly, on a year-on-year basis, estimated billing customers also decreased by 1.73% in Q4 2023 from 5.93 million in Q4 2022.

However, revenue collected by the Distribution Companies (DisCos) during the period was N294.95 billion, up from the N260.16 billion generated in Q3 2023 representing an increase of N34bn.

On a year-on-year basis, revenue generated in the reference period rose by 26.96% from N232.32 billion recorded in Q4 2022 to N294.95 billion in 2023.

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Meanwhile, the electricity supply was 6,432. (Gwh) in Q4 2023 from 5,732 (Gwh) in the previous quarter. However, on a year-on-year basis, electricity supply increased by 14.64% compared to 5,611 (Gwh) reported in Q4 2022.

According to the report, total customer numbers in Q4 2023 stood at 12.12 million from 11.71 million in Q3 2023, showing an increase of 3.46%. On a year-on-year basis, customer numbers in Q4 2023 rose by 9.59% from 11.06 million reported in Q4 2022.

Similarly, metered customers stood at 5.61 million in Q4 2023, indicating a decrease in the growth rate of 1.32% from 5.68 million recorded in the preceding quarter. On a year-on-year basis, this grew by 9.38% from the figure reported in Q4 2022 which was 5.13 million.

By: Babajide Okeowo

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