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NERC releases electricity companies' 2019 quarterly report

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The Nigerian Electricity Regulation Commission (NERC), on Saturday, said Eko Electricity Distribution Company (EKEDC) recorded the highest remittance efficiency of 43.3 per cent in the second quarter of 2019.

The Second Quarter Report was obtained by the News Agency of Nigeria in Lagos from the website of NERC.

The commission also expressed concern over the significant drop in Enugu DisCo’s remittance rate from 30.44 per cent in Q1 2019 to 24.55 per cent in Q2 2019. “As highlighted in the preceding quarters, low remittance adversely affects the ability of the Nigerian Bulk Electricity Trading Plc to honour its financial obligations to GenCos.

“Also, the aggregate combined invoice settlement rate for all DisCos rose to 30.6 per cent. However, none of the DisCos remitted up to 50 per cent of their market invoice.”

 

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