24 GenCos Record N36.8bn Shortfall For April Energy Bill
Twenty four electricity Generation Companies (GenCos) have recorded N36.8 billion shortfall in the Nigerian Electricity Market (NEM) after the 11 Distribution Companies (DisCos) failed to remit the full N50bn energy invoice for electricity generated and sent to them in April 2018.
Record of energy payment to the GenCos released by the Nigerian Bulk Electricity Trading Plc (NBET) showed that the GenCos issued an invoice of N50.9bn but received N14.12bn payment for the month leaving an outstanding of N36.8bn energy debt.
Breakdown of the records showed that the GenCos were paid 27.7 per cent flat from their invoices which was equivalent to the amount received by NBET from the DisCos.
The top two GenCos which received the highest payment and generated the most energy during the 30 day period of April include Ughelli Transcorp in Delta state. It presented N7.7bn invoice for 15.2 per cent of the total energy generated by the 24 power stations; however, it got just N2.14bn representing 27 per cent of its due payment.
Egbin Power in Lagos generated 13.3 per cent of the national grid energy in April and got N1.87bn from its N6.78bn invoice.
Agip Okpai plant in Delta got N1.1bn from N4.1bn invoice representing eight per cent of the national grid output; Geregu Gas in Kogi State got N1bn from N3.79bn invoice for 7.45 per cent power it generated.
The three hydropower GenCos all in Niger state received only N1.7bn payment after they presented about N6bn invoices for contributing 11.4 per cent of the national grid output in April. A further breakdown indicates that Kainji hydropower GenCo contributed 4.55 per cent power, presented N2.3bn invoice and got N642 million as payment.
Jebba hydropower GenCo raised N1.89bn invoice for the DisCos but got only N524m payment after it contributed 3.72 per cent energy to the grid. Shiroro hydropower GenCo contributed 3.27 per cent of energy, raised N1.66bn invoice and was paid N461m.
Among the other gas-fired plants were seven GenCos under the National Integrated Power Plants (NIPP). Geregu NIPP was paid N497m from N1.79bn invoice after generating 3.52 per cent energy; Odukpani (Calabar) NIPP got N476m from N1.71bn and contributed 3.37 per cent.
Olorunsogo (Ogun) NIPP got N236m, contributed 1.67 per cent energy and raised N852m invoice for April; Omotosho (Ondo) NIPP raised N1.28bn and got N355m; Sapele (Delta) NIPP got N509m from N1.8bn invoice; Ihovbor (Benin) NIPP was paid N279m from N1bn invoice and Gbarain (Bayelsa) NIPP was paid N149m from N538m invoice.
The other gas-fired GenCos include Sapele GenCo which got N116m from N419m invoice; Afam IV-V (Port Harcourt) GenCo raised N434m invoice but was paid N120m; Olorunsogo GenCo N2.6bn and got N741m; Omotosho GenCo received N782m out of its N2.8bn invoice; Ibom Power which generated N674m invoice but was paid just N186m; from a N1.42bn invoice, Rivers IPP received only N395m.
The rest are Trans Amadi GenCo in Rivers state raised N40m invoice and got N11m; Omoku in Rivers raised N859m invoice and got N238m payment from the DisCos; Azura, a new power GenCo produced power worth N1.2bn but was paid N337m while Shell (Afam VI) raised N3bn invoice and was paid N842m.