The Nigeria Electricity Regulatory Commission (NERC) has announced that Benin Republic and Togo owe Nigeria $5.79 million for energy consumed in the second quarter of 2024 (Q2).
In its second quarter 2024 report, NERC said that from April to June 2024, overseas customers paid $9.81 million of the $15.6 million they were billed for the electricity they used during the period. .
The companies involved are Para-SBEE of the Republic of Benin, Transcorp-SBEE of Benin, Mainstream-NIGELEC of Togo, and Odukpani-CEET of Togo.
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Para-SBEE of the Republic of Benin remitted 71.21 per cent of the $4.29 million claimed, while Transcorp-SBEE of Benin remitted 100 per cent of the $4.25 million claimed by Nigeria.
Mainstream Togo – NIGELEC paid 69.72% of the $3.59 million, while Odukpani – CEET did not remit anything during the review period.
During the first quarter, none of the four international customers paid for the $14.19 million in electricity used during the period.
NERC said overseas bilateral customers paid a total of $16.65 million in the second quarter.
“Transcorp-SBEE and Mainstream-NIGELEC have paid all outstanding invoices for the previous quarter,” the report said.
“Four international bilateral customers supplied by NESI’s Gencos received $9.81 million in cumulative invoices issued by MO for services rendered in the second quarter of 2024 of $15.6 million. This corresponds to a remittance performance of 62.88 percent,” NERC said. He further said:
The electricity regulator explained that domestic customers paid N1.3 billion in the second quarter against a cumulative bill of N1.99 billion issued by MO for services provided, which represents a 65.07% increase in remittance performance. It is said to be equivalent.
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It received approximately N1.3 billion from domestic bilateral customers for past claims.
Regarding electricity subsidy, the federal government subsidy obligation was reduced from 633.3 billion Naira to 380.06 billion Naira from the first quarter to the second quarter.
“The significant reduction in Federal Government subsidy obligations is a result of the Government’s policy directive to carry out a review of the charges levied on Band A customers, while charges for Band BE customers will be reduced from December 2022 onwards. remains frozen in fees paid,” NERC noted.