DisCos pay NBET N26.8 billion for electricity supply

According to the Nigerian Bulk Electricity Trading Company, market receipts for electricity distribution companies (DisCos) in June totaled N26.811 billion (NBET).

Henrietta Ighomrore, a spokeswoman for the NBET, made the announcement in a statement on Thursday.

In the Nigerian power sector, market receipt payments are made for grid distributed electricity.

In the ‘June 2021 Electricity Market Payment,’ NBET named EKO Electricity Distribution Company as the highest remitter.

Ms Ighomrore stated that the data revealed that no DisCo had reached 100% remittance, though EKO DisCos came close with a 93.4 percent remittance of market receipts.

According to her, the DisCos received N26.811 billion in market receipts in June 2021, with EKO, Abuja, and Port Harcourt DisCos accounting for 93.4 percent, 86.6 percent, and 76.4 percent, respectively.

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She went on to say that the market payment for June 2021 had been distributed to generating companies (GenCos) in proportion to their invoice.

Ms Ighomrore also stated that NBET was working with stakeholders throughout the value chain to improve payment and ensure the Nigerian electricity market’s viability.