THE Nigerian Electricity Regulatory Commission’s (NERC) latest report has revealed that International bilateral electricity customers in Benin Republic and Togo owe Nigeria $5.79 million for energy consumed during the second quarter of 2024.
The market operator between April and June, issued an invoice of $15.60 million, of which the international customers remitted $9.81 million.
The foreign entities purchasing 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 paid 71.21 percent of the $4.29 million billed, Transcorp-SBEE in Benin fully paid its $4.25 million invoice, Mainstream-NIGELEC in Togo remitted 69.72 percent of $3.59 million, while Odukpani-CEET made no payment during the period.
In the first quarter of 2024, none of the four international bilateral customers paid toward the $14.19 million invoice issued by the market operator for services rendered.
The Q2 report highlighted that some bilateral customers, both domestic and international, cleared payments for outstanding invoices from prior quarters.
“Cumulatively, the international bilateral customers paid a total of $16.65 million; Transcorp-SBEE and Mainstream-NIGELEC have settled all outstanding invoices from previous quarters,” the report noted.
The four international bilateral customers being supplied by Nigeria’s power generation companies remitted $9.81 million against the $15.60 million invoice for Q2 2024, reflecting a 62.88 percent payment performance.
The report also indicated that domestic bilateral customers paid N1.30 billion out of the N1.99 billion invoiced for services provided in Q2 2024, achieving a 65.07 percent payment performance. They also cleared N1.30 billion towards outstanding invoices from previous quarters.
Mainstream Energy Solutions was among those settling all overdue invoices from prior quarters.
The total revenue collected by all Discos in Q2 2024 amounted to N431.16 billion, representing 79.31 percent of the N543.64 billion billed.
This marks a slight improvement from the 79.11 percent collection efficiency recorded in Q1 2024, where N291.62 billion was collected from N368.65 billion billed.
