Electricity: DisCos Payment To GenCos Drop By 50% – Report

Electricity Distribution Companies’ rate to Technology Companies for electricity technology has dropped by 50 percent, Kumornews understands.

Files from the Nigerian Electricity Regulatory Price (NERC) confirmed that DisCos had been unable to pay GenCos fat rate for the amount of energy generated in January 2022.

Consequently, the technology corporations recorded a 50 per cent earnings shortfall, The Punch experiences.

A breakdown of the facts confirmed that though the 26 producing vegetation submitted an invoice totalling roughly N72bn, DisCos had been in a feature to remit handiest N37bn, hanging the percentage descend in rate to GenCos to 50 per cent.

The 11 utility corporations earn electricity tariffs on behalf of the Nigerian Electricity Present Alternate, after which it shares payments to the GenCos and the transmission company.

GenCos’ feedstock for energy manufacturing is majorly gas. A breakdown of the facts confirmed that Kanji received an invoice of N3bn for January, however turned into paid handiest N1.5bn.

Jebba had an invoice of N4bn however received N2bn, Shiroro had an invoice of N3bn however received N1.7bn, whereas Egbin, the ideal energy plant in Nigeria submitted an invoice of N10bn, however received paid handiest N5bn.

Ughelli Transcorp submitted an invoice of N7bn in January however received paid a total of N4bn, and Sapele Vitality Steam had an invoice of N945m however received paid N478m. Geregu also received half of rate of N4bn after submitting an invoice of N8bn.

The likes of AFAM IV-V received paid N609m out of a total invoice of N1.2bn. Olorunsogo also received paid N1.4bn out of N2.7bn, Omotosho Electric N1.4bn out of N2.8bn, and Alaoji NIPP N481m out of N952m.