Conducting nanowire networks find diverse applications in solar cells, touch-screens, transparent heaters, sensors, and various related transparent conducting electrode (TCE) devices. The performances of these devices depend on effective resistance, transmittance, and local current distribution in these networks. Although, there have been rigorous studies addressing resistance and transmittance in TCE, not much attention is paid on studying the distribution of current. Present work addresses this compelling issue of understanding current distribution in TCE networks using analytical as well as Monte-Carlo approaches. We quantified the current carrying backbone region against isolated and dangling regions as a function of wire density (ranging from percolation threshold to many multiples of threshold) and compared the wired connectivity with those obtained from template-based methods. Further, the current distribution in the obtained backbone is studied using Kirchhoff's law, which reveals that a significant fraction of the backbone (which is believed to be an active current component) may not be active for end-to-end current transport due to the formation of intervening circular loops. The study shows that conducting wire based networks possess hot spots (extremely high current carrying regions) which can be potential sources of failure. The fraction of these hot spots is found to decrease with increase in wire density, while they are completely absent in template based networks. Thus, the present work discusses unexplored issues related to current distribution in conducting networks, which are necessary to choose the optimum network for best TCE applications.