Power distributors owe NBET N37bn in one month
Published April 25, 2020
’Femi Asu
Power distribution companies in the country failed to pay a total of N37.22bn to the Nigeria Bulk Electricity Trading Plc for electricity sold to them in January this year.
The government-owned NBET buys electricity in bulk from generation companies through Power Purchase Agreements and sells through vesting contracts to the Discos, which then supply it to the consumers.
The bulk trader noted that some of the Discos had yet to meet up with the minimum remittance approved by the Nigerian Electricity Regulatory Commission.
Source:https://punchng.com/power-distributors-owe-nbet-n37bn-in-one-month/
Published April 25, 2020
’Femi Asu
Power distribution companies in the country failed to pay a total of N37.22bn to the Nigeria Bulk Electricity Trading Plc for electricity sold to them in January this year.
The government-owned NBET buys electricity in bulk from generation companies through Power Purchase Agreements and sells through vesting contracts to the Discos, which then supply it to the consumers.
The bulk trader noted that some of the Discos had yet to meet up with the minimum remittance approved by the Nigerian Electricity Regulatory Commission.
Source:https://punchng.com/power-distributors-owe-nbet-n37bn-in-one-month/
