PUNCH
None of the four international bilateral customers being supplied by the power generation companies in the Nigerian electricity supply industry made payment against the cumulative invoice of $14.19m issued by the market operator for services rendered in the first quarter of 2024.
The Nigerian Electricity Regulatory Commission revealed this in a report sighted by our correspondent.
The foreign companies are Para-SBEE in Benin Republic ($3.15m), Transcorp-SBEE in Benin ($4.46m), Mainstream-NIGELEC in Togo ($1.21m), and Odukpani-CEET in Togo ($5.36m).
NERC added that no remittances were made by bilateral customers within the country against the cumulative invoice of N1.86m issued to them by the market operator for services rendered in Q1 2024.
It, however, noted that some bilateral customers (both local and international customers) made payments during the quarter for outstanding Market Operator invoices from previous quarters.
“Cumulatively, a total of $5.96m was paid by two international customers. Similarly, the market operator received N505.71m from eight local bilateral customers as payment towards debts that were incurred pre-2024/Q1,” the report stated.
The commission said it was expecting the market operator to invoke the provisions of the market rules to curtail what it called the payment indiscipline being exhibited by local and international bilateral customers.
