The money is for electricity consumed in the first quarter of 2023
Niger,Togo, Benin Republic failed to remit $16.11 million for electricity consumed in the first quarter of 2023,the Nigerian Electricity Regulatory Commission (NERC),has said.
The agency said in its first quarter report that international customers had a remittance performance of 0 per cent to the Market Operator (MO) in Q1 2023.
The international customers include Société Béninoise d’Energie Electrique (SBEE) of Benin Republic (Paras-SBEE and Transcorp-SBEE), Compagnie Energie Electrique du Togo (CEET) (Odukpani-CEET) and NIGELEC- electric power generation and transmission utility in Niger (Mainstream-NIGELEC).
READ ALSO:
We’ve Surged Investment On Equipment Upgrades – EKEDC
Pastor Taiwo Odukoya: Why He Let Go
Man Jumps From Lekki-Ikoyi link Bridge Into Lagoon
According to the report,Paras-SBEE, Transcorp-SBEE, Mainstream-NIGELEC, and Odukpani-CEET received invoices of $3.46 million, $3.85 million, $5.48 million and $3.32 million respectively from the market operators and made no remittance.
The report also said,the market operator issued an invoice of ₦842.38 million to all eight bilateral customers in the Nigerian Electricity Supply Industry (NESI) in Q1 2023. Of all the bilateral customers, only North South/Star Pipe made a remittance.
READ ALSO:
Chevron Nigeria Limited Onboards Agbonu Ogulagha-Ibe Host Community Development Trust (HCDT)
War Looms Over Niger Coup, Tinubu Writes Senate, Niger Cuts Ties With Nigeria
The regulator added that special customers such as Ajaokuta Steel Co. Ltd and the host community did not make any payment towards the ₦0.38 billion (Nigerian Bulk Electricity Trading) and ₦0.08 billion (MO) invoices received in Q1 2023.
“None of the underlisted international customers made any payment against the cumulative $16.11 million invoice issued to them in 2023/Q1; Paras-SBEE ($3.46 million), Transcorp-SBEE ($3.85 million), Mainstream-NIGELEC ($5.48 million) and Odukpani-CEET ($3.32 million). The MO issued invoices to all the eight (8) bilateral customers in the NESI in 2023/Q1 which amounted to ₦842.38 million.
“Of the ₦842.38 million invoice issued, only North South/Star Pipe made a remittance of ₦15.38 million against its invoice of ₦24.69 million. This means that for the period, the cumulative remittance performance of bilateral customers was 1.83%,” the report said.
The agency added that the non-remittance by international and bilateral consumers is a continuous trend highlighted in the past quarterly reports.
