POWER: Bilateral companies owe Nigeria $8.5m — NERC

By Yinka Kolawole,  with bureau report

The Nigerian Electricity Regulatory Commission (NERC) has reported that immoderate planetary bilateral companies beryllium Nigeria’s energy procreation companies (GenCos) astir $8.5 cardinal successful unpaid powerfulness supply.

In its latest quarterly report, the Commission said the companies made a outgo of $9.015 cardinal from an invoice of $17.54 cardinal issued to them successful the 2nd 4th (Q2) of 2025, indicating a default of astir $8.5 million.

“In 2025/Q2, the six (6) planetary bilateral customers purchasing powerfulness from the grid-connected GenCos made a cumulative outgo of $9.015 cardinal against the $17.54 cardinal invoice issued to them by the MO for services rendered successful 2025/Q2 (remittance complaint – 51.33%).

“Similarly, the home bilateral customers made a cumulative outgo of N1.401 cardinal against the N2.79 cardinal invoice issued to them by the MO for services rendered successful 2025/Q26 (remittance complaint – 50.10%),”  NERC said

According to the report, the remittances are based connected reconciled marketplace colony submitted to the committee arsenic astatine September 30.

“It is noteworthy that 1 home bilateral lawsuit made payments during 2025/Q2 for outstanding MO invoices from erstwhile quarters. The MO received N10.53m from Trans-Amadi (OAU/FMPI) towards outstanding invoices from erstwhile quarters,” the committee said.

NERC added that the Ajaokuta alloy institution constricted and the big assemblage did not marque immoderate outgo for the N1.27 cardinal invoice from Nigerian Bulk Electricity Trading (NBET) Plc.

The committee said the works did not besides wage N120 cardinal MO invoices received successful the reviewed quarter.

The NERC added that the indebtedness continues a longstanding inclination of non-payment by “this lawsuit and the committee person communicated the request for involution connected this contented to the applicable FGN authorities”.

The station POWER: Bilateral companies beryllium Nigeria $8.5m — NERC appeared archetypal connected Vanguard News.