NEWS | FREE BEAT | | OTHERS | SPORTS |


Prince Thomas
Davido
Wizkid
Naira Marley
Olamide
Tiwa Savage
Rema
Teni
Kizz Daniel
Zlatan
Tekno
Phyno
Yemi Alade

« | »

Power Producers Sell ₦294.16 Billion Electricity In Five Months

Published by on September 17th, 2020.


News
Electricity generation companies in the country sold electricity worth N294.16bn in the first five months of this year to the Nigeria Bulk Electricity Trading Plc.

The government-owned NBET buys electricity in bulk from Gencos through Power Purchase Agreements and sells through vesting contracts to the distribution companies, which then supply it to the consumers.

NBET received a total invoice of N294.16bn from the Gencos in the five-month period but paid only N57.98bn, representing 19.71 per cent of the invoice, according to data obtained from the bulk trader.

The Gencos gave NBET an invoice of N51.85bn in January; N51.42bn in February; N52.82bn in March; N70.03bn in April, and N68.04bn in May.

READ  Obaseki: End Godfatherism In Edo With This 2020 Governorship Election

But the bulk trader only paid N15.61bn (30.11 per cent) in January; N13.09bn (25.46 per cent) in February; N5.84bn (11.05 per cent) in March; N10.19bn in April, and N13.25bn in May.

The total power generation in the country stood at 3,105.7 megawatts as of 6am on Tuesday, with 12 of the 27 power plants on the national grid being idle, according to the Nigerian Electricity System Operator.

According to NBET, the payment to the Gencos are based on receipts from the Discos.

“All the Discos are obligated to settle their market invoices in full as adjusted and netted off by applicable tariff shortfall approved by the commission,” the Nigerian Electricity Regulatory Commission said in its recent tariff order.

READ  Buhari To Present 2021 Budget To NASS In September – FG

NERC said the Discos would be liable to relevant penalties/sanctions for failure to meet the minimum remittance requirement in any payment cycle in accordance with the terms of its respective contracts with the NBET and the Market Operator, an arm of the Transmission Company of Nigeria.

“Where it is established that the TCN is unable to deliver load allocation, the TCN shall be liable to pay for the associated capacity charge,” NERC said in the document.

According to the regulator, where a Disco fails to take its entire load allocation due to constraints in its own network, it shall be liable to pay the capacity charge as allocated in its vesting contract.

READ  Nigerian Drug Kingpin Arrested In India With $136,000 Worth Of Ecstasy Pills Concealed In Foot Massaging Machine

It said, “The average tariff for each Disco was determined considering the projected energy offtake of the company based on its percentage load allocation in the vesting contract.”

It added that NBET would continue to invoice the Disco for capacity charge and energy based on its load allocation and metered energy respectively in accordance with the December 2019 Minor Review of MYTO 2015 and Minimum Remittance Order for Year 2020.

Source:- Punchng

Share this:

Like this:

TRENDING SONGS


CLICK TO DROP YOUR COMMENT

Share this post with your friends on





26 Responses

    1. interactive

      - 2:51 am

      Security

    1. Franchesca

      - 3:39 pm

      My partner and I absolutely love your blog and find nearly all of your post’s
      to be exactly I’m looking for. Do you offer guest writers to
      write content in your case? I wouldn’t mind publishing
      a post or elaborating on a lot of the subjects you
      write regarding here. Again, awesome web site! seductionforums.com

    1. Myrtie Santaloci

      - 4:51 pm

      Hello, I think your blog might be having browser compatibility issues. When I look at your blog in Chrome, it looks fine but when opening in Internet Explorer, it has some overlapping. I just wanted to give you a quick heads up! Other then that, terrific blog!

    1. Mauricio Wieland

      - 2:36 am

      Together with every little thing that seems to be developing inside this particular subject material, all your opinions are generally rather refreshing. Nonetheless, I appologize, because I can not subscribe to your entire strategy, all be it exciting none the less. It would seem to everyone that your remarks are generally not totally rationalized and in simple fact you are your self not really thoroughly certain of your argument. In any case I did appreciate reading it.

      https://extraproxies.com/tag/programmitically/

    1. ปั๊มไลค์

      - 2:22 pm

      Like!! Great article post.Really thank you! Really Cool.

    1. Ben Sinkey

      - 3:52 pm

      I adore your wordpress template, exactly where would you down load it from?

    1. Edison Krisher

      - 2:35 am

      Hey! I know this is somewhat off topic but I was wondering which blog platform are you using for this site? I’m getting fed up of WordPress because I’ve had problems with hackers and I’m looking at options for another platform. I would be fantastic if you could point me in the direction of a good platform.

      https://extraproxies.com/not-possible-to-make-complete-backup-of-my-phone-without-wiping-it/

    1. Metal

      - 9:33 am

      extensible

    1. ปั๊มไลค์

      - 3:59 pm

      Like!! Thank you for publishing this awesome article.

    1. เบอร์สวย

      - 4:02 pm

      I always spent my half an hour to read this web site’s articles or reviews daily along with a mug of coffee.

    1. Reda

      - 11:03 pm

      Keep this going please, great job! http://Satmareanul.com/

    1. Facebook Marketing

      - 2:41 pm

      I was just searching for this info for a while. After 6 hours of continuous Googleing, finally I got it in your website. I wonder what is the lack of Google strategy that do not rank this kind of informative web sites in top of the list. Generally the top web sites are full of garbage.

      https://www.blogexpander.com/

    1. SEO

      - 3:25 pm

      I would like to take the chance of saying thanks to you for the professional instruction I have constantly enjoyed browsing your site. We are looking forward to the particular commencement of my school research and the entire prep would never have been complete without coming over to your blog. If I might be of any assistance to others, I’d personally be pleased to help by means of what I have discovered from here.

      https://www.blogexpander.com/

    1. Affiliate Marketing

      - 3:31 pm

      I really pleased to find this site on bing, just what I was searching for 😀 too bookmarked.

      https://www.blogexpander.com/

    1. Social Media Marketing

      - 4:54 pm

      Undeniably imagine that which you stated. Your favourite reason appeared to be on the internet the simplest thing to keep in mind of. I say to you, I definitely get annoyed at the same time as other people think about concerns that they just don’t recognize about. You managed to hit the nail upon the top and also outlined out the entire thing with no need side-effects , other people could take a signal. Will likely be again to get more. Thanks!

      https://www.blogexpander.com/

    1. Facebook Marketing

      - 4:57 pm

      Thank you for the blog post. Jones and I happen to be saving for a new e-book on this issue and your post has made people like us to save our own money. Your thinking really responded to all our questions. In fact, over what we had acknowledged just before we came across your superb blog. I actually no longer nurture doubts including a troubled mind because you have totally attended to our own needs in this post. Thanks

      https://www.blogexpander.com/

    1. Darnell Kuamoo

      - 6:36 pm

      Hi! I’m at work browsing your blog from my new apple iphone! Just wanted to say I love reading your blog and look forward to all your posts! Keep up the superb work!

      https://extraproxies.com/buy-proxies/1000-proxy-pack

    1. Clement Sivay

      - 5:57 pm

      hi!,I like your writing very much! share we communicate more about your post on AOL? I require a specialist on this area to solve my problem. Maybe that’s you! Looking forward to see you.

      https://dreamproxies.com/tag/100-free-proxies/

    1. Annemarie Lovick

      - 11:24 pm

      I have learned some important matters through your website post. One other stuff I would like to state is that there are plenty of games out there designed specifically for preschool age little ones. They contain pattern acknowledgement, colors, pets, and styles. These usually focus on familiarization instead of memorization. This will keep a child engaged without experiencing like they are learning. Thanks

      https://dreamproxies.com/tag/resell-private-proxies/

    1. Pussy888

      - 11:59 pm

      Hi to every body, it’s my first pay a visit of this webpage; this
      weblog contains amazing and in fact excellent data for visitors. https://pussy99th.com

    1. Gaston Colden

      - 6:09 pm

      I’d need to examine with you here. Which isn’t one thing I usually do! I get pleasure from reading a submit that will make people think. Also, thanks for allowing me to remark!

      https://dreamproxies.com/buy-proxies/200-private-proxies

    1. Parbrize MINI F56 2017

      - 6:36 pm

      Hi, i feel that i saw you visited my site thus i came to go back the prefer?.I am attempting to find
      things to enhance my website!I suppose its good enough to use some of your ideas!! https://vanzari-parbrize.ro/parbrize/parbrize-mini.html

    1. Parbrize auto DAF TB 2007

      - 9:55 pm

      My brother recommended I might like this blog. He was entirely right.

      This post truly made my day. You cann’t consider just
      how so much time I had spent for this info! Thank you! https://vanzari-parbrize.ro/parbrize/parbrize-daf.html

    1. Norris Hollinsworth

      - 9:56 pm

      This site truly has all the information and facts I needed about this subject and didn’t know who to ask.

      https://extraproxies.com

    1. Parbriz auto HUMMER H1 1999

      - 10:08 pm

      This is my first time pay a quick visit at here and i am in fact pleassant to read all at single
      place. https://vanzari-parbrize.ro/parbrize/parbrize-hummer.html

Leave a Reply

NOTE:- Make your comment a bit long to get it approved.



Go Back To The Top

« | »


Looking for something? Search below







%d bloggers like this: