Power distribution companies in the country failed to pay a total of N416.94bn for the electricity sold to them from January to September this year, the latest data from the Nigerian Bulk Electricity Trading Plc have shown. 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…
Read MoreELECTRICITY: DISCOS OWE N416.94 BN IN NINE MONTHS, SAYS NBET
