- As benin DisCo ranks first in terms of payment to Gencos
The poor payment pattern of the DisCos to the GenCos seems not ending as the 11 electricity Distribution Companies (DisCos) paid N13 billion to 22 Generation Companies (GenCos) as they owe another N29.5bn for August energy billing, data from the Nigeria Bulk Electricity Trading Plc (NBET) has shown.
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 per cent payment rate.
The most performed DisCo for the month was Benin DisCo with 41 per cent payment rate. It took 8.29 per cent of the monthly energy and paid N1.5bn from its N3.6bn invoice. Eko DisCo was next with 40 per cent rate after it paid N1.9bn from its N4.85bn invoice for the 11 per cent grid energy it consumed.
Ikeja DisCo also did 40 per cent payment by paying N1.9bn from its N4.86bn invoice for the 11.02 per cent electricity it took in August.
The worst performed was Yola Disco which had N1.47bn invoice for taking 3.3 per cent 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 per cent energy level.
Jos DisCo did 15 per cent after paying N327m from its N2.1bn invoice and took 4.9 per cent energy; Kano DisCo had 16 per cent payment level as it paid N500m from a N3.1bn invoice.