Nigeria power body says Benin, Togo energy bills at $5.7m --[Reported by Umva mag]

The Nigerian Electricity Regulatory Commission (NERC) has said that the International bilateral electricity customers in Benin Republic and Togo are owing Nigeria $5.79m for the energy consumed in the second quarter of 2024.

The report by Punch newspaper on Monday said that the latest second-quarter 2024 report of the NERC showed that out of the $15.60m invoice issued by the market operator between April and June, the international customers remitted $9.81m.

It explained that the foreign companies off-taking power from Nigeria are Para-SBEE in Benin Republic ($1.23m), Transcorp-SBEE in Benin, Mainstream-NIGELEC in Togo ($1.09m), and Odukpani-CEET in Togo ($3.47m).

According to the report, Para-SBEE in Benin Republic remitted 71.21 per cent of the $4.29m billed, Transcorp-SBEE in Benin remitted 100 per cent of the $4.25m it was billed; Mainstream-NIGELEC in Togo paid 69.72 of $3.59m, and Odukpani-CEET did not remit anything during the period.

It noted that in the first quarter, none of the four international bilateral customers being supplied by the power generation companies made payments against the cumulative invoice of $14.19m issued by the market operator for services rendered.

In the Q2 report, it was noted that some bilateral customers (both domestic and international customers) made payments for outstanding invoices from previous quarters.

“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 report disclosed.

“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 report added.

GIK/APA

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