Nigeria’s international electricity customers remitted $17.730m in May


Nigeria’s international electricity customers remitted $17,739,042.09 to the Federal Government last month, it was learnt yesterday.

This was contained in the report of the Market Operator (MO) of the Transmission Company of Nigeria (TCN), Moshhod Saleeman, which he presented to the 28th power sector meeting in Kaduna earlier in the week.

The document seen by Naija247news explained that the MO received and disbursed $3,994,578.48 from the international customers and disbursed same to Service Providers in March this year.

According to Saleeman, while the Transmission Service Provider got $3,236,749.11, the System Operator (SO) received $363,83,97, MO got $22,115.69, Nigeria Bulk Electricity Trading Company (NBET) got $18926.42, and the Nigeria Electricity Regulatory Commission (NERC) received $353,100.28, totaling $3,994,578.48.

In the MO’s Dash Board summary for April 2018, which was the section that contained the international customers payment pointed out that energy sent out by electricity generation companies (GenCos) was 99,234,73Mwh while energy delivered to bilateral customers was 89,788.60Mwh.

The invoice to DisCos from Service Providers charges was N9,603,173,273.16, the amount remitted by DisCos to MO was N3,847 409,404.02 representing 42 per cent.

Amount disbursed to the Service Provider by the MO was also N3,847 409,404.02, representing 42 per cent.

The document however pointed out that there was a shortfall of N5,757,225,752.06, representing 58 per cent, while the interest that accured on DisCos outstanding balance stood at N4,804,971,811.78.

From another presentation, it was learnt that GenCos invoices to NBET for April 2018 cycle was N50.98billion.

This was contained in the NBET’s presentation on April 2018 payment circle that was prepared by its Ag. Head, Origination, Contract Administration and Settlement, Adaobi Nnorukah also presented in the same meeting in Kaduna that was obtained.

The document however added that “NBET’s payments to GenCos for April 2018 cycle: N14.12billion (27.70 per cent).

During the month under review, the average hourly energy sent out by the GenCos was 3,867.53Mw, and total energy sent out was 278462.48mwh.

Nnorukah said the total amount invoices to the DisCos for the period under review was N47.1billion.

But the DisCos, according to the document, paid N12.37 billion, representing 26.31 per cent to NBET.

It was learnt from the document that “DisCos late payment for March 2018 cycle stood at N1.75billion (3.72 per cent), due to the late payment of N700million from Enugu and N1.05million from Ibadan DisCos.”

The document also noted that the energy received by the DisCos was 225,980.95mwh.

It revealed that international customers and other net importers received 313.86mwh representing 8.12 per cent while the total energy received by other off takers was 225,980.94mwh.

On its international trade for the month of April, the document noted that “NBET has received $8.09million from the international customers from the Market Operator and already submitted the payment schedule to the CBN for disbursement.”

This site uses Akismet to reduce spam. Learn how your comment data is processed.