The Nigerian Electricity Regulatory Commission has revealed in its latest report that some international bilateral electricity customers in Benin Republic and Togo owe Nigeria $5.79m for energy consumption in the second quarter of 2024.
According to the report, an invoice of $15.60m was issued by the market operators between April and June, however only $9.81m was remitted.
Some of the foreign companies off-taking power from Nigeria are Para-SBEE in Benin Republic ($1.23m); Transcorp-SBEE in Benin; Mainstream-NIGELEC in Togo ($1.09m); and Odukpani-CEET in Togo ($3.47m).
While some companies remitted part of what was billed to them, others including Odukpani-CEET did not remit anything during the period.
The statement further showed that In the first quarter, none of the four international bilateral customers being supplied by the power generation companies made payments against the cumulative invoice of $14.19m issued by the market operator for services rendered.
However, payments were later made for the outstanding invoices from the previous quarters.
“Cumulatively, the international bilateral customers paid a total of $16.65m; Transcorp-SBEE and Mainstream-NIGELEC have made payments towards all outstanding invoices from previous quarters,” the report stated.
It added, “The four international bilateral customers being supplied by Gencos in the NESI made a payment of $9.81m against the cumulative invoice of $15.60m issued by the MO for services rendered in 2024/Q2, translating to a remittance performance of 62.88 per cent.”
The commission revealed that the total revenue collected by all Discos in 2024/Q2 was N431.16bn out of the N543.64bn that was billed to customers. This translates to a collection efficiency of 79.31 per cent.
In comparison, the total revenue collected by all Discos in 2024/Q1 was N291.62bn out of the N368.65bn billed to customers which translated to a 79.11 per cent collection efficiency.
The 79.31 per cent collection efficiency recorded in 2024/Q2 is 0.20pp higher than the collection efficiency recorded in 2024/Q1.
