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- The NERC has revealed that 3 African countries beryllium Nigeria implicit $8 cardinal successful energy bill
- The committee said the magnitude is for energy proviso for the 4th fourth of 2024 to the countries
- Nigeria presently supplies energy to Benin, Niger, and Togo arsenic portion of its planetary energy exports
Legit.ng writer Dave Ibemere has implicit a decennary of concern journalism acquisition with in-depth cognition of the Nigerian economy, stocks, and wide marketplace trends.
The Nigerian Electricity Regulatory Commission (NERC) has disclosed that Benin Republic and Togo beryllium Nigeria a full of $8.84 cardinal (N13.45 billion) for energy consumed successful the 4th fourth of 2024.
This was revealed successful a caller study by NERC, which details the remittances made by some home and planetary customers.
Source: Getty Images
The 3 countries bargain energy from Nigeria done Paras-SBEE and Transcorp-SBEE from Benin Republic, Mainstream-NIGELEC successful Niger, and Odukpani-CEET from Togo.
African countries beryllium Nigeria $8 million
A breakdown of the indebtedness showed that six planetary bilateral customers, supplied by Nigerian powerfulness procreation companies (GenCos), paid lone $5.21 cardinal retired of the $14.05 cardinal billed, representing a remittance show of 37.08%.
Among the planetary customers, Paras-SBEE successful Benin Republic paid $2.65 million, portion Paras-CEET, besides successful Benin, remitted $1.64 million. Transcorp-SBEE (Ughelli) successful Benin settled $1.71 cardinal of its $3.59 cardinal invoice, portion Transcorp-SBEE (Afam 3) paid $0.90 cardinal retired of $1.2 million.
Odukpani-CEET successful Togo remains indebted with an outstanding equilibrium of $2.37 million.
The study further indicated that lone Mainstream-NIGELEC afloat cleared its invoice, making a implicit outgo of $2.60 cardinal to the Market Operator.
NERC besides revealed that home bilateral customers successful Nigeria paid N1.25 cardinal retired of the N1.98 cardinal billed successful Q4 2024, representing a remittance complaint of 63.36%.
Some customers, some home and international, made further payments for outstanding invoices from erstwhile quarters.
Paras-CEET, Paras-SBEE, and Transcorp-SBEE contributed $0.98 million, $0.7 million, and $1.3 million, respectively, towards past debts.
Source: Getty Images
Electricity debts owed by customers successful Nigeria
Meanwhile, Nigeria’s peculiar customer, Ajaokuta Steel Company Limited, on with its big community, failed to marque immoderate payments towards their N1.27 cardinal invoice from the Nigeria Bulk Electricity Trading Plc (NBET) and an further N0.11 cardinal invoice from the Market Operator.
NERC described this arsenic a “longstanding inclination of non-payment” and called connected the national authorities to intervene.
On the home front, Nigerian energy distribution companies (DisCos) generated N509.84 cardinal successful gross successful Q4 2024, achieving a 77.44% postulation ratio from the N658.40 cardinal billed to customers.
This marks an betterment from Q3 2024, erstwhile DisCos collected N466.69 cardinal retired of N626.02 billion, reflecting a postulation ratio of 74.55%.
NERC stated:
“The 77.44% postulation ratio recorded successful Q4 2024 is 2.89 percent points higher than the 74.55% recorded successful Q3 2024.”FG approves hike successful prepaid metre prices
Earlier, Legit.ng reported that Ikeja Electric has announced an approved terms summation for single-phase and three-phase prepaid meters.
All energy organisation companies (DisCos) are expected to instrumentality the increase.
In a announcement shared with its customers, Ikeja Electric stated that each prices are valid taxable to metre availability.
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Source: Legit.ng
