NERC, None of the four foreign bilateral clients that the power generation companies supplied in the first quarter paid the $14.19 million cumulative invoice that was issued.
Nigeria is owed $5.79 million by Benin Republic and Togo, two international bilateral electricity customers, for the energy used in the second quarter of 2024.
This was disclosed in the most recent report for the second quarter of 2024 by the Nigerian Electricity Regulatory Commission.The foreign customers remitted $9.81 million of the $15.60 million invoice that the market operator issued between April and June.The foreign companies that are acquiring power from Nigeria are Odukpani-CEET ($3.47m), Mainstream-NIGELEC ($1.09m), Para-SBEE ($1.23m) in the Benin Republic, and Transcorp-SBEE ($1.23m) in Benin.
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Mainstream-NIGELEC in Togo paid 69.72 percent of $3.59 million, while Odukpani-CEET did not remit any money during the period. Para-SBEE in the Benin Republic remitted 71.21% of the $4.29 million billed, while Transcorp-SBEE in Benin remitted 100% of the $4.25 million it was billed.
None of the four foreign bilateral clients that the power generation companies supplied in the first quarter paid the $14.19 million total invoice that the market operator had issued for the services provided.
Certain bilateral customers—both domestic and foreign—made payments for unpaid invoices from prior quarters, according to the Q2 report.Transcorp-SBEE and Mainstream-NIGELEC have paid all outstanding invoices from prior quarters; cumulatively, the international bilateral customers paid a total of $16.65m, the report revealed.According to the statement added in the NESI, “The four international bilateral customers Gencos supplies paid $9.81 million against the total invoice of $15.60 million issued by the MO for services rendered in 2024/Q2, translating to a remittance performance of 62.88 percent.”
According to the NERC, the domestic bilateral customers paid N1.30 billion towards the total amount of N1.99 billion that the MO had sent them for services rendered in 2024/Q2, which translates to a remittance performance of 65.07 percent.
Domestic bilateral customers paid N1.30 billion to the market operator towards unpaid invoices from prior quarters.It was reported that Mainstream Energy Solutions had paid all outstanding invoices from prior quarters.According to the commission, all Discos took in N431.16 billion in revenue in 2024/Q2, of the N543.64 billion that they were supposed to bill customers. This corresponds to a 79.31% collection efficiency.In contrast, the total revenue collected by all Discos in 2024/Q1 was N291.62 billion, or 79.11 percent of the N368.65 billion that was billed to customers. The collection efficiency for 2024/Q2 was 79.31%, which is 0.20 percentage points higher than the collection efficiency for 2024/Q1.