Discos failed to pay N510.53bn in 2020 – NERC

Discos failed to pay N510.53bn in 2020 – NERC

Discos failed to pay N510.53bn in 2020 – NERC     Power distribution companies (Discos) in Nigeria failed to pay a total of N510.53bn for the electricity sold to them in 2020 by Nigerian Bulk Electricity Trading (NBET) 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…

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Tariff increase: Discos get 85% collection order

The Nigerian Electricity Regulatory Commission has directed power distribution companies to collect an average of about 85.84 per cent of the newly increased electricity tariffs from affected customers between September and December. It disclosed this in its latest orders in the matter of the Extraordinary Review of Multi Year Tariff Order 2015, which were issued to the 11 Discos operating across the country. Power consumers, however, kicked against the tariff hike and the decision by NERC to grant approval to Discos to collect as high as over 80 per cent…

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