International customers – Niger, Benin, Togo – who purchase power from Nigeria remitted a total of N 2. 04bn in the first quarter of this year as their outstanding electricity bill to the Market Operator of the sector in Nigeria .
But special customers , Ajaokuta Steel Co . Ltd and its environs , did not make any payment in respect of the N 0. 27bn and N 0. 05bn invoices issued them by the Nigerian Bulk Electricity Trading Plc and the MO respectively , during the period of review .
The Nigerian Electricity Regulatory Commission disclosed this in its report for the first quarter of 2020.
It said a total of N 4. 05bn ( $13. 22m ) invoices were issued by the MO to international customers including Societe Nigerienne d’ electricite or NIGELEC ; Societe Beninoise d’ Energie Electrique or SBEE ; and Compagnie Energie Electrique du Togo or CEET .
The commission stated that during the quarter, NIGELEC made a payment of ₦1. 61bn ( $5. 27m ) as part of its outstanding bills for the energy received from NBET and services rendered by the MO .
“ Similarly , SBEE paid ₦0. 43bn ( $1. 39m ) in respect of services received from MO , ” the commission added .
It stated that it was noteworthy that tariff shortfall ( represented by the difference between actual end – user tariffs payable by consumers and the cost – reflective rates approved by NERC ) had partly contributed to liquidity challenges being experienced in the industry .
It, however , stated that the settlement ratio to the expected Minimum Remittance Thresholds , having adjusted for tariff shortfall , indicated that power distribution companies needed to improve on their performance .
The PUNCH reported on Tuesday that power distributors failed to remit N 119. 88bn to the sector in the first quarter of the year .
“ Whereas Discos were expected to make a market remittance of 46. 09 per cent during 2020/Q 1, only 32. 53 per cent settlement rate was achieved within the timeframe provided for market settlement in the Market Rules, ” the commission stated.
It said the Discos ’ remittance level, regardless of the prevailing tariff shortfall , was still below the expected MRT and called on the power firms to improve on their performances .
