Benin, Discos, Others Owe NBET N136.15bn

Nigeria’s 11 power distribution companies, Ajaokuta Steel Company Limited and the power firms of the Republics of Benin and Niger failed to pay a combined total of N136.15bn to the Nigerian Bulk Electricity Trading company in the second quarter of this year.

According to the 2019 second quarter report released on Monday by the Nigerian Electricity Regulatory Commission, the highest debtors to the power sector energy trader during the review period were the 11 Discos, as they jointly owed N124.98bn.

“During the second quarter of 2019, out of the total invoice of 180.08bn issued to the 11 Discos for energy received from NBET and for service charge by MO (Market Operator), the sum of 55.1bn of the total invoice was settled, representing 30.6 per cent remittance performance, and 2.83 percentage points increase from the first quarter of 2019,” the report stated.

The average total remittance performance to the market for all Discos was 30.6 per cent and ranged from 13.12 per cent for Jos Disco to 43.27 per cent for Eko Disco.

The commission stated that during the quarter under review, the special and international customers made no payment to NBET and MO.