Foreign countries owe Nigeria $5.7m for electricity consumed in 2024 – NERC
The Nigerian Electricity Regulatory Commission (NERC) has disclosed that international bilateral customers in Togo and the Republic of Benin owe Nigeria $5.79 million for the energy consumed in the second quarter of 2024.
This is contained in the recently released NERC’s second-quarter 2024 report.
The report shows that of the $15.60m invoice issued by the market operator between April and June, the international customers only remitted $9.81m.
The foreign companies off-taking power from Nigeria were listed as Para-SBEE in Benin Republic ($1.23m), Transcorp-SBEE in Benin, Mainstream-NIGELEC in Togo ($1.09m), and Odukpani-CEET in Togo ($3.47m).
While Transcorp-SBEE in Benin remitted 100 per cent of the $4.25m it was billed, Para-SBEE in Benin Republic remitted 71.21 per cent of the $4.29m bill.
Mainstream-NIGELEC in Togo paid 69.72 of $3.59m, and Odukpani-CEET did not remit anything during the period.
The first quarter report showed that none of the four international bilateral customers who received power from the generation companies made payments against the cumulative invoice of $14.19m issued by the market operator for services rendered.
According to the Q2 report, some bilateral customers (both domestic and international customers) fulfilled payments of outstanding invoices from previous quarters.
“Cumulatively, the international bilateral customers paid a total of $16.65m; Transcorp-SBEE and Mainstream-NIGELEC have made payments towards all outstanding invoices from previous quarters.
“The four international bilateral customers being supplied by Gencos in the NESI made a payment of $9.81m against the cumulative invoice of $15.60m issued by the MO for services rendered in 2024/Q2, translating to a remittance performance of 62.88 per cent,” the report partly read.
NERC breaks down payment by domestic customers
NERC explained that the domestic bilateral customers made a payment of N1.30bn against the cumulative invoice of N1.99bn issued to them by the market operator for services rendered in 2024/Q2 representing 65.07 per cent remittance performance.
The operator also raked in N1.30bn from domestic bilateral customers towards outstanding invoices from previous quarters.
For its part, Mainstream Energy Solutions reportedly made payments towards all outstanding invoices from previous quarters.
The commission revealed that the total revenue collected by all Discos in 2024/Q2 stood at N431.16bn out of the N543.64bn that was billed to customers, representing a collection efficiency of 79.31 per cent.
In comparison, the total revenue collected by all Discos in 2024/Q1 was N291.62bn out of the N368.65bn billed to customers which translated to a 79.11 per cent collection efficiency. The 79.31 per cent collection efficiency recorded in 2024/Q2 is 0.20pp higher than the collection efficiency recorded in 2024/Q1.
