Deborah Hundenu
The Nigerian Electricity Regulatory Commission (NERC) has disclosed that international customers in Benin Republic, and Togo were owing Nigeria $5.7 million for electricity supplied in the second quarter of 2024.
This was revealed in the commission’s latest report covering the period from April to June.
According to the report, the total invoice issued by the Nigerian Market Operator for electricity supplied to the foreign customers during the period amounted to $15.60 million.
However, only $9.81 million was remitted, leaving an outstanding balance of $5.7 million.
The international customers benefiting from Nigeria’s electricity supply include Para-Société Béninoise d’Énergie Électrique (SBEE) in Benin Republic, Transcorp-SBEE in Benin, Mainstream-NIGELEC in Togo, and Odukpani-Compagnie Énergie Électrique du Togo (CEET).
Breakdown of the payments revealed that Para-SBEE in Benin Republic remitted 71.21 per cent of its $4.29 million invoice, while Transcorp-SBEE in Benin paid 100 per cent of its $4.25 million bill.
Mainstream-NIGELEC in Togo paid 69.72 per cent of its $3.59 million invoice, but Odukpani-CEET in Togo failed to make any payments during the period, despite being billed $3.47 million.
In contrast to the second quarter, NERC noted that no payments were made by any of the four international customers in the first quarter of 2024.
At that time, they were billed a cumulative total of $14.19 million but did not remit any payments.
Despite the outstanding debts, the report highlighted that some international customers made payments for overdue invoices from previous quarters.
Cumulatively, these customers remitted $16.65 million, with Transcorp-SBEE and Mainstream-NIGELEC making significant efforts to settle their outstanding balances.
“The four international bilateral customers being supplied by generation companies in the Nigerian Electricity Supply Industry (NESI) made a payment of $9.81 million against the cumulative invoice of $15.60 million issued by the Market Operator for services rendered in Q2 2024, translating to a remittance performance of 62.88 per cent,” the report stated.
NERC also revealed that domestic bilateral customers, who are also part of the Nigerian power supply network, made a payment of ₦1.30 billion against the ₦1.99 billion invoice issued to them for the second quarter of 2024, achieving a remittance performance of 65.07 per cent.
Additionally, domestic customers made payments towards their outstanding invoices from previous quarters.
Mainstream Energy Solutions, one of the key power generation companies, was noted to have made payments towards settling all outstanding invoices from previous periods.
The commission also reported on the revenue collection performance of Nigeria’s power distribution companies (Discos). In Q2 2024, the total revenue collected by all Discos amounted to ₦431.16 billion out of ₦543.64 billion billed to customers, reflecting a collection efficiency of 79.31 per cent.
Benin Republic, Togo Owe Nigeria $5.7m For Electricity — NERC
Deborah Hundenu
The Nigerian Electricity Regulatory Commission (NERC) has disclosed that international customers ; Benin Republic, and Togo were owing Nigeria $5.7 million for electricity supplied in the second quarter of 2024.
This was revealed in the commission’s latest report covering the period from April to June.
According to the report, the total invoice issued by the Nigerian Market Operator for electricity supplied to the foreign customers during the period amounted to $15.60 million.
However, only $9.81 million was remitted, leaving an outstanding balance of $5.7 million.
The international customers benefiting from Nigeria’s electricity supply include Para-Société Béninoise d’Énergie Électrique (SBEE) in Benin Republic, Transcorp-SBEE in Benin, Mainstream-NIGELEC in Togo, and Odukpani-Compagnie Énergie Électrique du Togo (CEET).
Breakdown of the payments revealed that Para-SBEE in Benin Republic remitted 71.21 per cent of its $4.29 million invoice, while Transcorp-SBEE in Benin paid 100 per cent of its $4.25 million bill.
Mainstream-NIGELEC in Togo paid 69.72 per cent of its $3.59 million invoice, but Odukpani-CEET in Togo failed to make any payments during the period, despite being billed $3.47 million.
In contrast to the second quarter, NERC noted that no payments were made by any of the four international customers in the first quarter of 2024.
At that time, they were billed a cumulative total of $14.19 million but did not remit any payments.
Despite the outstanding debts, the report highlighted that some international customers made payments for overdue invoices from previous quarters.
Cumulatively, these customers remitted $16.65 million, with Transcorp-SBEE and Mainstream-NIGELEC making significant efforts to settle their outstanding balances.
“The four international bilateral customers being supplied by generation companies in the Nigerian Electricity Supply Industry (NESI) made a payment of $9.81 million against the cumulative invoice of $15.60 million issued by the Market Operator for services rendered in Q2 2024, translating to a remittance performance of 62.88 per cent,” the report stated.
NERC also revealed that domestic bilateral customers, who are also part of the Nigerian power supply network, made a payment of ₦1.30 billion against the ₦1.99 billion invoice issued to them for the second quarter of 2024, achieving a remittance performance of 65.07 per cent.
Additionally, domestic customers made payments towards their outstanding invoices from previous quarters.
Mainstream Energy Solutions, one of the key power generation companies, was noted to have made payments towards settling all outstanding invoices from previous periods.
The commission also reported on the revenue collection performance of Nigeria’s power distribution companies (Discos). In Q2 2024, the total revenue collected by all Discos amounted to ₦431.16 billion out of ₦543.64 billion billed to customers, reflecting a collection efficiency of 79.31 per cent.
This was a slight improvement compared to the first quarter of 2024, where Discos collected ₦291.62 billion out of ₦368.65 billion billed, with a collection efficiency of 79.11 per cent.
The increase of 0.20 percentage points demonstrates marginal progress in revenue collection.
This was a slight improvement compared to the first quarter of 2024, where Discos collected ₦291.62 billion out of ₦368.65 billion billed, with a collection efficiency of 79.11 per cent.
The increase of 0.20 percentage points demonstrates marginal progress in revenue collection.
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