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Niger, Togo, Benin Owe Nigeria N9.41bn Electrical energy Invoice for Q2 2024, Says NERC
The Nigerian Electrical energy Regulatory Fee (NERC) says worldwide prospects owe $5.79 million for electrical energy provide within the second quarter (Q2) of 2024.
The debt quantities to N9.41 billion when transformed utilizing the official alternate charge of N1626.32/$ as of October 10.
In its newest quarterly report, the company mentioned market operators (MO) issued an bill of $15.60 million to 4 companies in three international locations.
Out of the aforementioned worth, the electrical energy regulator mentioned solely $9.81 million was paid.
The companies are Paras-SBEE and Transcorp-SBEE each from the Benin Republic; Mainstream-NIGELEC from Niger; and Odukpani-CEET from Togo.
Beneath a global treaty, Nigeria sells electrical energy to neighbouring international locations like Benin Republic, Togo, and Niger.
The electrical energy regulator additionally mentioned home bilateral customers did not remit N695.4 million out of N1.99 billion in the identical quarter.
“In 2024/Q2, the 4 (4) worldwide bilateral prospects serviced by the MO made a cumulative fee of $9.81 million towards the $15.60 million bill issued to them by the MO for companies rendered in 2024/Q2,” the report reads.
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“Equally, the home bilateral prospects made a cumulative fee of ₦1,295.90 million towards the cumulative bill of ₦1,991.30 million issued to them by the MO for companies rendered in 2024/Q2.”
The NERC mentioned some bilateral prospects (home and worldwide prospects) made funds in Q2 2024 for excellent MO invoices from earlier quarters.
“Cumulatively, the worldwide bilateral prospects paid a complete of $16.65 million; Transcorp-SBEE and Mainstream-NIGELEC have made funds in direction of all excellent invoices from earlier quarters,” the fee added.
“Equally, the MO acquired ₦1,309.97 million from the home bilateral prospects in direction of excellent invoices from earlier quarters; Mainstream Vitality Options has made fee in direction of all excellent invoices from earlier quarters.”
The regulator mentioned underneath the particular prospects’ association, Ajaokuta Metal Firm Restricted and the host group didn’t make any fee in direction of the N1.39 billion (NBET) and N0.11 billion (MO) invoices acquired in Q2 2024.
“This continues a longstanding development of non-payment by this buyer and the fee has communicated the necessity for intervention on this difficulty to the related FGN authorities,” the fee mentioned.
The fee mentioned the continuation of the non-payment might set off complete disconnection from the grid.
