19 December 2018, Sweetcrude, Lagos — The electricity distribution companies or Discos in the country failed to clear 68.6 per cent of invoices forwarded to them by the Nigerian Bulk Electricity Trading, NBET, and Market Operators, MOs, in the first quarter of this year.
In the quarter under review, the Discos were issued a total invoice of ₦163.1 billion for energy received from NBET and for the service charge by MOs, out of which only ₦51.2 billion or 31.4 per cent was settled by the Discos.
This left a huge shortfall of ₦112 billion or 68.6 per cent.
Disclosing this in a report on the state of the power sector, the Nigerian Electricity Regulatory Commission, NERC, also stated that In the period under review, the total invoice issued to special customer (Ajaokuta Steel) and international customers, who are connected to the grid in Nigeria through an inter-connector, and have commercial relationship with NBET or other grid users, stood at N12.2 billion.
No payment was received from these customers, NERC said.
The international customers are CEB/SAKETE and NIGELEC. NBET manages the long-term diplomatic Power Sale Agreement between Nigeria and Togo/Benin Republic (CEB/SAKETE) and Niger Republic (NIGELEC).