Power distribution companies in the country failed to pay a total of N510.53bn for the electricity sold to them in 2020 by Nigerian Bulk Electricity Trading Plc, the Nigerian Electricity Regulatory Commission has said.
The government-owned NBET buys electricity in bulk from generation companies through Power Purchase Agreements and sells through vesting contracts to the Discos, which then supply it to the consumers.
The 11 Discos were given a total invoice of N730.71bn for the energy received in 2020 but paid only N220.18bn to NBET, according to NERC data.
The power distributors received a total invoice of N52.13bn in January; N52.01bn in February; N52.62bn in March; N68.08bn in April; N68.09bn in May; and N56.27bn in June.
The Discos received a total invoice of N66.33bn in July; N63.62bn in August; N59.10bn in September; N62.95bn in October; N62bn in November; and N67.50bn in December.
But they paid N14.96bn in January; N13.18bn in February; N6.07bn in March; N10.67bn in April; N12.84bn in May; and N12.91bn in June.
They paid N12.91bn in June; N12.91bn in July; N14.99bn in August; N37.57bn in September; N22.47bn in October; N33.27bn in November, and N28.33bn in December.
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