The power sector updated metering report indicates that only 161,640 customers received meters between January and October 2016.
Most of the 11 electricity Distribution Companies (DisCos) may not attain their annual target of installing 100,000 meters this year due to foreign exchange crisis among others with a month to the end of 2016.
However, another report from the Nigerian Bulk Electricity Trading Plc (NBET) shows that the DisCos’ monthly energy payment dipped significantly with an average of 26.84 percent payment for August.
Monthly metering statistics provided by the Nigerian Electricity Regulatory Commission (NERC) at the 10th sectorial meeting in Akwa Ibom State showed that 3.329 million customers had meters by October.
The reported 161,640 meters installed so far, projects a huge shortfall of meter installation by year end.
Ibadan DisCo, which has the largest customers in its network, attained 50 percent of its target by metering 50,730 customers between January and October 2016. It had promised to install 100,000 units annually.
Ikeja Disco installed 23,610 meters, Eko DisCo provided 21,131 meters; and Benin DisCo installed 20,244 meters.
While Port Harcourt DisCo installed 11,695 meters, the others had less than 4,000 installed meters this year.
Meanwhile, NBET data published for August 2016 rated the DisCos’ payment performance below average on their remittances.
The 11 electricity distribution companies consumed 91.69 percent of the total energy (2.30-gigawatt hour-GWh) sent out in August but paid only 26.84 percent of the bill. Rather than pay the N34.93 billion raised for them, they paid only N9.37 billion, the record showed.
The N28.32 billion market shortfall in August caused dropped payment to 24.61 percent for the 20 Generation Companies’ (GenCos) bills. NBET said GenCos got only N9.37 billion instead of N38.09 billion for the month.