The Nigeria Electricity Regulatory Commission (NERC) has said three international customers are currently owing the Transmission Company of Nigeria (TCN) $11.97 million in debt for electricity supply in the second quarter (Q2) of this year.
The NERC report entitled: “Remittance by Special and Cross-border Customers”, in Q2 of 2023, further revealed that only Transcorp-SBEE out of the four international customers serviced by the Market Operator (MO), made payment of $1.43 million.
The remitted amount by the customer is part of the total amount of $2.13 million in the invoice earlier issued for services during the period under review leaving an outstanding payment of $1.30 million.
However, three other international customers failed to make any payments against the $11.97 million invoice issued to them by the MO for services rendered during the period in review.
The report listed these customers to include Republic of Benin, Republic of Niger, and Togo. The only customer that made payment, Transcorp – SBEE is owned by the Republic of Benin.
The other firms include Paras-SBEE also from the Benin Republic; Mainstream-NIGELEC from Niger; and Odukpani-CEET from Togo.
The report further stated that during the period in review, bilateral customers made a total a cumulative payment of $816.66 million against an invoice of $2,845.08 million issued by the MO.
According to NERC, $194.69 billion was fixed as the cumulative upstream invoice payable by DisCos. The amount consisted of $154.04 billion being cost of generation from the Nigerian Bulk Electricity Trading (NBET) and $40.65 billion for transmission and administrative services by the Market Operator (MO).
The DisCos collectively made payment of $185.36 billion ($152.48 billion for NBET and $32.88 billion for MO) out of the total $194.69billion pegged as cumulative upstream invoice during the period leaving an outstanding balance of $9.32 billion.
The payment made by DisCos during the period indicated 95.21% remittance performance and showed an increase in remittance compared to the 67.43 percent recorded in 2023/Q1.
