NERC Slams GenCos' N1.6tr Capacity Bill, Confirms New Tariff The chairman of the Nigerian Electricity Regulatory Commission (NERC), Sanusi Garba, has faulted the generation companies' claim of a N1.6 trillion capacity debt owed by the federal government, saying most of the companies lack a formal...

FG Says Discos’ Indebtedness Hits N326bn In Nine Months   The shortfall in remittances by power distributors to the Nigerian Bulk Electricity Trading Company Plc and the Market Operator of the sector rose to N326bn between January and September 2021, the Federal Government has said. Latest data...

Discos Remit Only N265.03bn of N519.77bn Invoices To NBET In Six Months   Electricity Distribution Companies (Discos) only managed to remit N265.03 billion of the expected N519.77 billion to the Nigerian Bulk Electricity Trading Company (NBET) in the first six months of 2021. Data from the Nigerian...

NERC Renews NBET’s Licence For Three Years   The Nigerian Bulk Electricity Trading company on Tuesday announced that its operating license had been renewed for additional three years by the Nigerian Electricity Regulatory Commission. It said in a statement issued by the firm in Abuja that the...

We Process N60bn Electricity Invoices Monthly - NBET   The Nigerian Bulk Electricity Trading Plc on Sunday said it processed N60bn electricity invoices monthly for various operators in the power sector. NBET, a wholly owned agency of the Federal Government, is the manager and administrator of the...

FG Borrowed N1.3trn In Four Years To Subsidise Power Consumers - W/Bank     The Federal Government has borrowed a total of N1.3tn since 2017 to ensure that generation companies and gas suppliers received enough payments to continue generating electricity, the World Bank has said. The bank said...