International Customers Owe Nigeria $5.79 Million for Power
International bilateral electricity users from Benin Republic and Togo owe Nigeria $5.79 million for energy consumed in the second quarter of 2024.
The Nigerian Electricity Regulatory Commission reported this in its most recent second-quarter 2024 report.
International consumers remitted $9.81 million of the market operator’s $15.60 million invoice issued between April and June.
Foreign enterprises off-taking power from Nigeria include Para-SBEE in Benin Republic ($1.23 million), Transcorp-SBEE in Benin, Mainstream-NIGELEC in Togo ($1.09 million), and Odukpani-CEET in Togo ($3.47 million).
Para-SBEE in Benin Republic sent 71.21 percent of the $4.29 million billed; Transcorp-SBEE in Benin remitted 100% of the $4.25 million billed; Mainstream-NIGELEC in Togo paid 69.72 percent of the $3.59 million billed; and Odukpani-CEET did not remit anything during the period.
In the first quarter, none of the four foreign bilateral clients supplied by the power producing businesses paid the market operator’s cumulative invoice of $14.19 million for services delivered.In the Q2 report, it was reported that some bilateral customers (both local and international) paid outstanding accounts from previous quarters.
The international bilateral clients paid a total of $16.65 million; Transcorp-SBEE and Mainstream-NIGELEC paid all outstanding invoices from prior quarters,” the report stated.It continued: “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 NERC reported that domestic bilateral customers paid N1.30 billion against the MO’s cumulative invoice of N1.99 billion for services supplied in 2024/Q2, representing a 65.07 percent remittance performance.
The market operator got N1.30 billion from domestic bilateral consumers for outstanding invoices from prior quarters.
Mainstream Energy Solutions was stated to have paid all outstanding invoices from previous quarters.
The commission reported that the total income collected by all Discos in 2024/Q2 was N431.16 billion, out of N543.64 billion billed to subscribers. This amounts to a collection efficiency of 79.31%.
In comparison, the total revenue received by all Discos in 2024/Q1 was N291.62 billion out of N368.65 billion billed to clients, representing a collection efficiency of 79.11%. Collection efficiency in 2024/Q2 was 79.31%, which is 0.20 percentage points more than in 2024/Q1.
