International bilateral electricity users from Benin Republic and Togo owe Nigeria $5.79 million for energy consumed in the second quarter of 2024.
The Nigerian Electricity Regulatory Commission reported this in its most recent second-quarter 2024 report.
International consumers remitted $9.81 million of the market operator’s $15.60 million invoice issued between April and June.
Foreign enterprises off-taking power from Nigeria include Para-SBEE in Benin Republic ($1.23 million), Transcorp-SBEE in Benin, Mainstream-NIGELEC in Togo ($1.09 million), and Odukpani-CEET in Togo ($3.47 million).
Para-SBEE in Benin Republic sent 71.21 percent of the $4.29 million billed; Transcorp-SBEE in Benin remitted 100% of the $4.25 million billed; Mainstream-NIGELEC in Togo paid 69.72 percent of the $3.59 million billed; and Odukpani-CEET did not remit anything during the period.
In the first quarter, none of the four foreign bilateral clients supplied by the power producing businesses paid the market operator’s cumulative invoice of $14.19 million for services delivered.
In the Q2 report, it was reported that some bilateral customers (both local and international) paid outstanding accounts from previous quarters.
“Cumulatively, the international bilateral customers paid a total of $16.65m; Transcorp-SBEE and Mainstream-NIGELEC have made payments towards all outstanding invoices from previous quarters,” the report disclosed.
It added, “The four international bilateral customers being supplied by Gencos in the NESI made a payment of $9.81m against the cumulative invoice of $15.60m issued by the MO for services rendered in 2024/Q2, translating to a remittance performance of 62.88 per cent.”
The NERC noted that the domestic bilateral customers made a payment of N1.30bn against the cumulative invoice of N1.99bn issued to them by the MO for services rendered in 2024/Q2 translating to 65.07 per cent remittance performance.
The market operator received N1.30bn from domestic bilateral customers towards outstanding invoices from previous quarters.
Mainstream Energy Solutions was said to have made payments towards all outstanding invoices from previous quarters.
The commission revealed that the total revenue collected by all Discos in 2024/Q2 was N431.16bn out of the N543.64bn that was billed to customers. This translates to a collection efficiency of 79.31 per cent.
In comparison, the total revenue collected by all Discos in 2024/Q1 was N291.62bn out of the N368.65bn billed to customers which translated to a 79.11 per cent collection efficiency. The 79.31 per cent collection efficiency recorded in 2024/Q2 is 0.20pp higher than the collection efficiency recorded in 2024/Q1.
