Nigerian Electricity Customers Owe Firms in Benin Republic and Togo $5.79m for Second Quarter Energy Consumption
The Nigerian Electricity Regulatory Commission (NERC) has revealed that international bilateral electricity customers in Benin Republic and Togo owe Nigeria $5.79 million for the energy consumed in the second quarter of 2024. According to the NERC’s latest second-quarter 2024 report, out of the $15.60 million invoice issued by the market operator between April and June, international customers remitted $9.81 million.
The foreign companies receiving power from Nigeria are 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 remitted 71.21% of the $4.29 million billed, Transcorp-SBEE in Benin paid 100% of the $4.25 million billed, Mainstream-NIGELEC in Togo paid 69.72% of $3.59 million, and Odukpani-CEET did not remit anything during the period.
In the first quarter, none of the four international bilateral customers supplied by power generation companies made payments against the cumulative invoice of $14.19 million issued by the market operator for services rendered. However, the NERC reported that some bilateral customers, both domestic and international, made payments for outstanding invoices from previous quarters.
In the Q2 report, the NERC noted that international bilateral customers paid a total of $16.65 million, with Transcorp-SBEE and Mainstream-NIGELEC making payments towards all outstanding invoices from previous quarters. The NERC also noted that domestic bilateral customers made a payment of N1.30 billion against the cumulative invoice of N1.99 billion issued to them by the MO for services rendered in 2024/Q2, translating to 65.07% remittance performance.
The market operator received N1.30 billion from domestic bilateral customers towards outstanding invoices from previous quarters. Mainstream Energy Solutions was said to have made payments towards all outstanding invoices from previous quarters.
The commission reported that the total revenue collected by all Discos in 2024/Q2 was N431.16 billion out of the N543.64 billion billed to customers, translating to a collection efficiency of 79.31%. This is higher than the 79.11% collection efficiency recorded in 2024/Q1, which translated to a 0.20 percentage point increase.