Togo, Benin owe Nigeria $5.79m electricity debt in Q2 – NERC

Togo, Benin international bilateral electricity customers owed Nigeria a total sum of $5.79 million as electricity debt in the second quarter of 2024.

The Nigerian Electricity Regulatory Commission disclosed this in their latest second-quarter 2024.

According to NERC’s data, out of the $15.60m invoice issued by the market operator between April and June 2024, the international customers remitted only $9.81 million to the country.

This comes as the foreign companies off-taking power from Nigeria are Para-SBEE in Benin Republic ($1.23m), Transcorp-SBEE in Benin, Mainstream-NIGELEC in Togo ($1.09 million), and Odukpani-CEET in Togo ($3.47 million).

Accordingly, Para-SBEE in Benin Republic remitted 71.21 percent of the $4.29 million billed, Transcorp-SBEE in Benin remitted 100 percent of the $4.25 million it was billed; Mainstream-NIGELEC in Togo paid 69.72 of $3.59m, and Odukpani-CEET did not remit anything during the period.

Recall that in the first quarter, none of the four international bilateral customers being supplied by the power generation companies made payments against the cumulative invoice of $14.19m issued by the market operator for services rendered.

However, in the Q2 report, it was noted that some bilateral customers (both domestic and international customers) made payments for outstanding invoices from previous quarters

“Cumulatively, the international bilateral customers paid a total of $16.65 million; Transcorp-SBEE and Mainstream-NIGELEC have made payments towards all outstanding invoices from previous quarters,” the report disclosed.

“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 Market Operator for services rendered in 2024/Q2, translating to a remittance performance of 62.88 percent”, it added.