Discos Owe NBET N430bn In 11 Months
Power distribution companies (Discos) failed to pay a total of N429.87bn to the Nigerian Bulk Electricity Trading Plc for electricity sold to them from January to November last year.
The government-owned NBET buys electricity in bulk from generation companies...
TCN Vows To Push For Discos’ Recapitalisation
Power distribution companies must be recapitalised for Nigeria’s power industry to work and the Transmission Company of Nigeria has vowed to push for the Discos’ recapitalisation this year.
Speaking on some of the company’s targets for 2020 in the...
NERC Releases Minimum Remittance Payable By Discos
The Nigerian Electricity Regulatory Commission has released a new minimum market remittance threshold payable by the 11 power distribution companies operating across the country.
Power distributors are the revenue collection agents of the sector, as they collect electricity tariffs...
Discos’ Yearly Revenue Collection Hits N466bn
Power distribution companies have set a new record of N466bn in their yearly revenue collection, the Association of Nigerian Electricity Distributors has said.
ANED, which is the umbrella body for all the Discos, said the revenue collection rose by 10...
FG To Discos: End Cash Payment On Electricity Bills
The Federal Government has ordered power distribution companies to migrate to cashless settlement platforms with respect to the collection of electricity bills from residential, industrial and commercial customers.
It stated that beginning from January 2, 2020, the...
Discos Make 100% Remittance As TCN Enforces Rules
The enforcement of electricity market rules by the Market Operations arm of the Transmission Company of Nigeria has compelled power distributors to remit 100 per cent of the invoice issued them by the MO.
This came as workers...
