The Nigerian Electricity Regulatory Commission (NERC) has revealed that that several power distribution companies in the country are beginning to develop debt habit, a situation that has forced the Commission to begin enforcement procedures against remittance of revenue.
Market Operator Report (MOR) , the monthly performance gazette for the month of May 2017, showed that only two power distribution companies were able to make over 90 per cent remittance to the electricity MOR.
Out of Nigeria’s 11 power distribution companies, only the Eko and Yola Discos remitted 100 per cent and 91 per cent revenues, respectively in May. The other nine remitted below 50 per cent, despite NERC’s claim of enforcing stipulated collection procedures.
Business Hilights recalls that part of the Communiqué issued at the end of the17th power operators’ monthly meeting in Abuja adopted enforcement procedures on erring Discos who voided revenue remittance deadlines.
