OpeOluwani Akintayo with agency report Lagos — The Nigerian Electricity Regulatory Commission, NERC has confirmed that electricity’ distribution companies, DisCos…
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The Gencos put the amount owed them for electricity generated and supplied by them is approximately N800 billion, adding that together with capacity and interest payments due to them, they are owed in excess of N1 trillion.
A breakdown of the payment details showed that all the Generating companies were paid within the period, while about eight out of the 10 power plants built under the National Integrated Power Projects (NIPPs) and managed by the Niger Delta Power Holding Company Ltd (NDPHC) were equally paid the value on their invoices.
“What we are signing is just a binding document for us to engage with them and buy their electricity which we will then sell to the distribution companies and other general service companies which buy electricity from NBET. There is no initial payment until when they start selling based on their metered energy.”
According to the breakdown, in January, Eko Disco paid 45.45 per cent of its invoice figure while Abuja Disco paid 45.01 per cent. The worst performer was the Jos Disco which struggled to pay only 14.99 per cent of its invoice.
“We hope that this injection (of the fund) will help. We are also looking at several other reforms in the sector, hoping that the market can become self-sustaining, independent and run on its own and free up all of the private sector energy that is waiting to come into the market,” he said.
Oscarline Onwuemenyi 18 August 2015, Sweetcrude, Abuja – The Nigeria Bulk Electricity Trading Plc, NBET, has revealed plans to reduce…
