The Nigerian Bulk Electricity Trading Plc (NBET) said the 11 Distribution Companies (DisCos) only paid N9.6 billion for energy invoice of N41.96 billion supplied to them in July 2017, leaving a deficit of N32.3bn.

In its routine market payment update published yesterday, NBET said 3,907 megawatts hour (MWh) of electricity was generated in July while 3,646 MWh was produced in June.

The DisCos got 92.7 percent of the generated energy while the international customers, including Benin and Niger republics, got the remaining 7.28 percent in July.

In June, the international customers got 8.57 percent, while the larger quantum of 91.43 percent went to the 11 DisCos, it said.

However, the DisCos remitted a higher amount of N11.23bn in June from an invoice of N40.81bn. It was N1.63bn higher than the remittance in July.

While an N55m late payment was received in June from some of the DisCos, for May; NBET said the late payment recurred again with N1.196bn received for June but paid in July.

According to the intermediary agency, which collects money from the DisCos and pays the Generation Companies (GenCos), the performance rate went lower in July. While it was 27.67 percent in June, payment performance dropped to 25.80 percent in July.

To the GenCos, NBET paid N11.29bn from an invoice of N44.64bn in June; the GenCos also received N10.825bn from invoice figures of N45.25bn in July. The deficit and unpaid energy charge to the DisCos remain N67.77bn for both months, Daily Trust analysis shows.

In June, the top three performers were Benin, Eko and Ikeja DisCos who paid up to 40 percent of their energy invoices. While Benin DisCo led with 41 percent in July, Eko and Ikeja DisCos maintained their 40 percent performance rate.

Kano and Yola DisCos did not remit any money in June, even when they ought to pay N2.88bn and N1.35bn respectively.  The list of zero performers grew to three in July, with Port Harcourt (N3.5bn), Kano (N3bn), and Yola (N1.4bn) DisCos not remitting a total of N7.9bn, the record shows.

EnergyNews
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