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GENCOs charged DISCOs N30b in 2016, says NBS

By Chuka Odittah (Abuja)   |   13 February 2017   |   1:43 am

Electricity

Electricity generating companies (GENCOs) charged distribution firms (DISCOs) and offtakers N30.51 billion as cost of generation in the power supply chain in 2016.

In the National Bureau of Statistics (NBS) and the Nigerian Bulk Electricity Trading Plc (NBET) Nigerian Bulk Electricity Invoices and Payment from GENCOs to DISCOs and Offtakers (2016) report made available to The Guardian yesterday, a payment of N2 billion and a debit note of N1.12 billion for Net GENCOS imports was made with a balance N27.3 billion at the end of 2016.


The report indicated that an invoice of N331.02 billion was issued by the GENCOs to the DISCOs while a payment of N88.03 billion was made with a balance N242.97 billion recorded at the end of 2016.


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