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7 DisCos fail to make January payment for bulk electricity

7 DisCos Fail To Make January Payment For Bulk Electricity

Seven Electricity Distribution Companies (DisCos) have again failed to remit any payment for the energy invoice of January 2018 just as five failed to pay in December 2017, Daily Trust reports.

Market data released by the Nigerian Bulk Electricity Trading Plc (NBET) on its website showed that only four DisCos remitted part of their bulk energy payments for the month. The report showed that Enugu DisCo remitted 29.24 per cent of its invoice, Port Harcourt DisCo 15.06 per cent, Abuja DisCo 18.60 per cent, and Jos DisCo 9.09 per cent. Those without any remittance were Benin, Eko, Ibadan, Ikeja, Kaduna, Kano and Yola DisCo according to the latest post.

In December 2017, five of the DisCos failed to pay anything for over N16.2 billion electricity delivered to them by the Generation Companies (GenCos). The electricity market performance crashed to eight per cent, raising fears of a sector collapse among the operators. Records from NBET then showed that two other DisCos made late payments after the due date while four others remitted varying percentages of their energy invoice figures.

The post 7 DisCos fail to make January payment for bulk electricity appeared first on Energy News | Oil and Gas News.



This post first appeared on Energy Mix Report, please read the originial post: here

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7 DisCos fail to make January payment for bulk electricity

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