Niger, Benin, Togo remitted a total of N2.04bn in the first quarter of this year as their outstanding bill for electricity purchased from Nigeria.
The Nigerian Electricity Regulatory Commission disclosed this in its report for the first quarter of 2020.
It said a total of N4.05bn ($13.22m) invoices were issued by the Market Operator to international customers including Societe Nigerienne d’electricite (Niger), Societe Beninoise d’Energie Electrique (Benin) and Compagnie Energie Electrique du Togo (Togo).
According to NERC, during the quarter, Niger made a payment of ₦1.61bn ($5.27m) as part of its outstanding bills for the energy received from NBET and services rendered by the MO.
Similarly, Benin paid ₦0.43bn ($1.39m) in respect of services received from MO, the commission added.
The commission added that tariff shortfall (represented by the difference between actual end-user tariffs payable by consumers and the cost-reflective rates approved by NERC) had partly contributed to liquidity challenges being experienced in the industry.
In the same vein, it noted that the settlement ratio to the expected Minimum Remittance Thresholds, having adjusted for tariff shortfall, shows that power distribution companies needed to improve on their performance.
Untitled Document
You can always reach us through these channels
Facebook:https:/www.facebook.com/ancitymedia
Instagram: https://www.instagram.com/ancitymedia
Youtube Channel:https://youtube.com/@ancitymedia
Phone Numbers: 07062501185, 09038738731
E-Mail: info@ancity.com.ng, anambracity@gmail.com
Copyright.
This Post: Niger, Benin, Togo pay N2.04bn outstanding electricity bill to Nigeria was approved and published by Ancity Media Editor and may not be republished elsewhere without prior written permission from the Editor.
