The Nigerian Electricity Regulatory Commission (NERC), has disclosed that international customers in the Benin Republic and Togo owe Nigeria a total of $5.79 million for electricity consumed in the second quarter of 2024.
This information was highlighted in NERC’s recent report covering the second quarter of 2024.
The total invoice issued by the market operator during the April to June period amounted to $15.60 million, of which the international customers paid $9.81 million.
The companies responsible for purchasing electricity from Nigeria include Para-SBEE in Benin Republic, which owes $1.23 million; Transcorp-SBEE in Benin, Mainstream-NIGELEC in Togo, which owes $1.09 million; and Odukpani-CEET in Togo, which owes $3.47 million.
Specifically, Para-SBEE paid 71.21% of its billed amount of $4.29 million, while Transcorp-SBEE settled 100% of its $4.25 million invoice. Mainstream-NIGELEC remitted 69.72% of the $3.59 million it was billed, and Odukpani-CEET did not make any payments during this quarter.
In the first quarter of 2024, none of the four international customers made payments toward the cumulative invoice of $14.19 million issued by the market operator for services rendered.
The Q2 report also mentioned that some bilateral customers, both domestic and international, made payments on outstanding invoices from previous quarters. Collectively, international bilateral customers paid a total of $16.65 million, with Transcorp-SBEE and Mainstream-NIGELEC settling all their previous invoices.
The report stated, “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 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 also reported that domestic bilateral customers paid 1.30 billion Naira out of the 1.99 billion Naira billed to them in Q2 2024, translating to a remittance performance of 65.07%.
Additionally, domestic customers made payments toward outstanding invoices from previous quarters.
In total, all Distribution Companies (Discos) collected 431.16 billion Naira in Q2 2024, out of 543.64 billion Naira that was billed, achieving a collection efficiency of 79.31%.
This is an improvement over Q1 2024, where Discos collected 291.62 billion Naira from a billing of 368.65 billion Naira, resulting in a collection efficiency of 79.11%. The efficiency recorded in Q2 2024 is 0.20 percentage points higher than that of Q1 2024.
