NBET: Three DisCos ignored N8.68bn bill in February

Data from the Nigerian Bulk Electricity Trading Plc (NBET) have shown that three electricity distribution companies (DisCos) made zero remittance to generation companies (GenCos) from the N8.68 billion invoice of February 2018.

The three DisCos are Kaduna DisCo with N3.30 billion invoice; Port Harcourt DisCo, N3.75 billion; and Yola DisCo, N1.63 billion.

Meanwhile, eight of the eleven DisCos remitted N11.38 billion from the N44.44 billion bill received from the GenCos.

The data published on NBET website showed that the payment represented 25.62 percent payment of the invoices of the monthly remittances for the 3,225 megawatts hour per hour (MWh/h) energy consumed by the DisCos.

Ikeja DisCo remitted N2.63 billion from its N5.59 billion invoice, Eko DisCo remitted N2.09 billion from the N5.22 billion invoice while Ibadan DisCo remitted N1.93 billion from its N5.89 billion invoice.

Abuja DisCo had the highest invoice of N6.19 billion, but it remitted N1.99 billion.

Enugu DisCo remitted N1bn out of an invoice of N3.75 billion while Benin DisCo remitted N1bn of its N3.79 billion invoice.

Jos DisCo remitted the least of N225 million from N2.26 billion invoice it was issued, which represents 9.92 percent payment. Kano DisCo remitted N500m from its N3.03 billion invoice.

According to the data, late payment of N9.36 billion was recorded for January 2018 invoices, increasing the total payment received in February to N20.75 billion.