The Electricity Distribution Companies, DisCos, in Nigeria, owe N8.892 billion for electricity supply services after the supply for February 2018, records from the Market Operator, MO, a section of the Transmission Company of Nigeria, TCN, have revealed.
Generation Companies (GenCos) delivered 2,179 megawatts per hour (mw/h) of electricity to the 11 DisCos in February and billed them N9.423bn, payment update records for Service Providers charges in the Nigerian Electricity Market (NEM) indicated.
The MO said it got N3.444bn from the DisCos and remitted same to the Service Providers, which include the System Operator (SO), MO – both of TCN, and the Nigerian Electricity Regulatory Commission (NERC).
There was N5.979bn as shortfall for February that was not paid for. This represents 60 per cent of the total amount due for payment in the month.
The MO also recorded another N2.913bn as the accrued interest on the DisCos outstanding balance. The combined debt for the month for service providers’ charges was pegged at N8.89bn, Daily Trust learnt.
Meanwhile the DisCos owe N38.526bn as outstanding debt, including accrued interest on the debts by the end of January 2018. This is separate from the N8.89bn being owed for February 2018.
The breakdown shows that while N35.612bn is for the service providers’ charges, N2.913bn is for accrued interest.
The top debtors for the service charge and accrued interest is Ibadan DisCo, with N6.3bn, followed by Abuja DisCo, with N6.085bn.
Port Harcourt owes N4.043bn; Kano DisCo owes N3.978bn, Kaduna owes N3.939bn, Enugu owes N3.861bn, Ikeja owes N3.124bn and Jos DisCo owes N3.070bn.
Yola DisCo has the lowest debt of N60.273m, while Eko DisCo has N1.625bn and Benin, N2.431bn.
