Discos Remits August Energy Bill To Gencos

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Discos Remits August Energy Bill To Gencos

Data from the Nigeria Bulk Electricity Trading Plc (NBET) has shown how the 11 electricity Distribution Companies (DisCos) remitted part of the money owed the Gencos

For the August energy billing, the Discos paid N13 billion to 22 Generation Companies (GenCos) leaving N29.5bn as debt.

In a publication yesterday, the agency said the GenCos advised a N44.154bn energy invoice from which the DisCos paid N13.520bn, representing an average 30 percent payment rate.

Benin DisCo paid with 41 percent payment rate. It took 8.29 percent of the monthly energy and paid N1.5bn from its N3.6bn invoice. Eko DisCo was next with 40 percent rate after it paid N1.9bn from its N4.85bn invoice for the 11 percent grid energy it consumed.
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Ikeja DisCo also did 40 percent payment by paying N1.9bn from its N4.86bn invoice for the 11.02 percent electricity it took in August.

The worst performed was Yola Disco which had N1.47bn invoice for taking 3.3 percent energy allocation but remitted zero naira in the month. The DisCo is presently managed by the Federal Government after its owner declared a force majeure two years ago.

Kaduna DisCo topped the list of the other poorly performed firms by remitting 14 per cent (N400 million) from N2.9bn invoice it was given while consuming 6.6 percent energy level.

Jos DisCo did 15 percent after paying N327m from its N2.1bn invoice and took 4.9 per cent energy; Kano DisCo had 16 percent payment level as it paid N500m from a N3.1bn invoice.

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