He said, “The Distribution Companies raked in a whopping N247.33 billion in the first quarter of 2023 as against N232.32 billion generated in the fourth quarter of 2022, representing a rise by 20.81 per cent compared to N204.74 billion generated first Quarter of 2022 .
“Whereas electricity supply declined from 5,956 in the first quarter of 2022 to 5,852 first quarter of 2023 , despite the increase in earnings; the distribution companies have demonstrated unfaithfulness toward the social contract with Nigerians, as enshrined and enhanced by the transitional effect of the Electric Power Reform Act, 2005 to the Electricity Act, 2023.
“NERC has watched helplessly while communities, individuals, and corporate organisations assumed the responsibilities of providing electricity transmission facilities where they are either not available or repaired, where the same are faulty. “Whereas, the commission can act within the ambit of its own created service charter that outlines consumer rights, obligations, expected service levels, and redresses applicable to them.
“While NERC watches the DisCos abdicate their responsibilities to communities, individuals, corporate bodies, and public institutions, no compensation mechanism has been evolved to ensure either an outright refund of these third-party investments in the distribution network or a possible conversion of same to electricity credits for the use of these ‘investors”All rights reserved.