Discos, service providers owe market operator N252bn – Report

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The total shortfall in remittances to the power sector by electricity distribution companies and service providers since the commencement of the Transitional Electricity Market has risen to N251.92bn, The Punch reports.

According to the electricity Market Operator’s report on the summary of invoices and remittances by the Discos and service providers since the commencement of the TEM to April 2017, the 11 Discos had been unable to remit a total of N111.37bn, service providers could not pay N125.96bn, while other players could not remit N14.59bn.

It outlined the shortfalls in remittances of the Abuja, Benin, Eko, Enugu, Ibadan and Ikeja Discos as N15.89bn, N7.63bn, N3.5bn, N14.86bn, N11.96bn and N12.87bn, respectively. Others are the Jos, Kaduna, Kano, Port Harcourt and Yola Discos, with shortfalls in their remittances to the market put at N8.79bn, N12.02bn, N9.94bn, N12.14bn and N1.77bn, respectively.