More details into the financial state of the power sector has been revealed by the National Bureau of Statistics (NBS) / Nigerian Bulk Electricity Trading Plc (NBET).

The information obtained by energywatchng shows that the Nigerian Bulk Electricity Invoices and payments from generating companies (GENCOs) to distribution companies (DISCOs) and offtakers for 2016 has reflected that an invoice of N27.14bn was issued by the generating companies (GENCOs) to the offtakers while a payment of N2bn was made with a balance N24.96bn recorded at the end of 2016.

The generating companies (GENCOs) issued a total invoice of N331bn to the distribution companies (DISCOs) with the DISCOs share of the total invoice put at N331bn while payment N88.03bn was received with a balance of N242.97bn recorded at the end of the period under review.

Similarly, the generating companies (GENCOs) issued a total invoice of N361.52bn to the offtakers with the offtakers share of the total invoice put at N30.2bn while payment N2bn was received with a balance of N27.39bn recorded at the end of 2016.

The sum of N1.13bn was recorded as the debit note for Net GENCOs imports in 2016.

Further breakdown by energywatchng shows that Egbin generated the most energy in 2016 with a total invoice of N62.5bn which is the total cost of energy generated for 2016, followed by Transcorp Power with a total invoice of N40.4bn, third on the list was Jebba with a total invoice of N26.1 bn.

From the various invoices to the Discos, Egbin received N16.4bn which is 26.24% of total cost of energy generated, while Transcorp Power received N9.6bn (23.64%) and Jebba received N6.1bn (23.37%). Further analysis by energywatchng showed that the Gencos were paid less than 30% of the actual cost of energy generated which is a major cause of the poor generation level currently experience across the country because the Gencos are limited with funds and can’t invest heavily on their plants.

Moreover, amongst the discos’ invoice, Abuja Disco took the highest energy with a total invoice of N44.9bn for the year 2016, seconded by Ikeja Disco with a total invoice of N42.4bn, followed by Ibadan Disco with a total invoice of N41.2bn, Enugu came forth with a total invoice of N36.97bn, Benin Disco had a total invoice of N30.3bn, followed by Port Harcourt Disco and Eko disco, with a total invoice of N29.8bn and N28.5bn respectively.

In the terms of payment performance with respect to their various invoices from the Gencos, Eko Disco came first with total payment of N13.5bn for the year 2016 which is 47.3% of the total cost of the energy used by the disco.

Ikeja Disco took second, with total payment of N29bn (31.6%), followed by Ibadan disco taking third, Abuja disco taking forth, Enugu Disco taking fifth and Benin Disco taking sixth their total respective payment was N12.9bn (31.3%), N13.1bn (29.17%), N9.9bn (26.83%) and N7.5 bn (24.67%).

Further analysis by energywatchng shows that most discos remitted less than 30% of the cost of energy they distributed to their customers which is very poor and not encouraging for the sector. We believe more effort and investment should be channeled towards revenue collection amongst the Discos.

http://www.energywatchng.com/discos-paid-gencos-n88-03bn-n331bn-2016-nbs/

Abeg make una help me beg Port Disco say we no dey dance to dis kind disco oh
For Nepa time were disco sef no been dey we been dey get light pass now oh

SHAMEFUL

No wonda bayelsa nepa dey lyk dz.
Xo na disco dem dey play

Na wa o. Everything just jaga jaga

Corruption is like the lifeblood of some entities, without which them go pèmé

The kind number wey dis people dey call eh!
Sometimes I dey wonder if na true dem dey talk or dem just dey talk anything wey enter their mind.



Imagine N331bn!


Chai! No be here ooo!

they just make money look like ordinary figure in your eyes

Corruption at every level. Most especially this electricity company make you pay for what you don't use, subtract the use and pocket the remaining for their own

Hmmmmm, it is well.

Many are complaining of no light yet they won't pay their bill. Illegal connection is the order of the day.
In few words "We are all sabotage and corrupt, both disco, genco and WE the consumers"


May God help Naija.

....Nigeria is getting better

ok we don hear

Excuses

Nigeria has no diseases that eating us deep rather than corruption, make i talk say the worse Disease we get for Naija now, nah corruption wey past HIV infection, and i think the only medicine wey need now is for us Nigerians to start shunning the act of celebrating PC (Political Criminal / Hepatitis PC)
once they carry campaign reach your neighborhood stead of saying PDP power just start stoning them instead of saying APC change just begin stoning them for any of them who might have publicly accuse of fraud and corruption, no matter any political affiliation then we will now see that thief will be afraid to representing us and this will defiantly gives room to loyal people to come out (# JUNGLE JUSTICE FOR POLITICAL CRIMINALS)

And this is why no matter who you put as Power minister, nothing would change.
Too many structural defects in the power industry and they all need to be tackled at the same time.

Sorry to say with the corruption in the current discos I don't see any reprieve from the poor electricity supply in the near future

Ok

Soo simple, GENCOs should apply to take over their management till they recover their money.

osahonmk:


Ikeja Disco took second, with total payment of N29bn (31.6%)

http://www.energywatchng.com/discos-paid-gencos-n88-03bn-n331bn-2016-nbs/

One of those figures is not right either the N29bn or the 31.6% since 29bn is not 31.6% of the N42.4bn invoice which Ikeja Disco received

SalamRushdie:
Sorry to say with the corruption in the current discos I don't see any reprieve from the poor electricity supply in the near future

Would you care to explain further?

saladhor:


Would you care to explain further?

The Discos have made it corrupt habit to make sure the reject more than half the electricity the gencos send to them under the dubious auspice that thier customers are other paying for it , what this means is that the Discos get to make free money since 80 percent of their subscribers don't have prepaid metres and billed by estimation ..In essence the discos have found out they can sell darkness to there consumer so why bother taking up electricity from the gencos.

The analysis is only on southern discos. What about northern discos ? Or don't they get light too ? Let's see what percentage of their consumption was paid vis-vis the south. Or are they enjoying light for free . Transparency needed please

abuja discos, thumps up, more grease to ur joints, u can still do better, atleast light in minna, gurara specifically has improve significantly as a result of the mass protest.

jpphilips:


That explains why most Gencos operate below capacity, the Disco accuse TCN of not having the requisite infrastructure to distribute, in truth they are rejecting their allocations because we are happy to pay for darkness.

Exactly !! And as long as it remains like that the Discos will keep sabotaging the system. Recently the past MD of TCN exposed them and was fires within 4 weeks of telling the world that discos were rejecting more than half of the electricity wheeled to them .

Hello, get this right--there is an intermediary between the disco's and the Gencos--They are call''NBET''. which is the Government representaive--they are the ones who should mediates between the two--the transaction between Genco's and Disco's is carried out by NBET--THE QUESTION IS''Do they remits all the amount they got from the disco's to the Genco's--Again what is the allocation of Gas supply to the Gencos by the federal government.The Genco's continue generating power using their money to buy gas at $2.5[ per cf] but the government representative ;NBET'' ARE owing them -and when they want to pay,they would only pay a small percentage of the total invoice that covers the entire transaction.e author=jpphilips post=53668888]

Won't be long before the Gencos will be financially crippled then the Discos will buy them over, that is the end game, damn!! took me long to figure it out, most gas suppliers ain't happy with the Gencos cos they are owed big time, how can the Gencos pay the gas suppliers when the Discos are screwing things up? fashola is a disgrace & a nematode all in one pack!![/quote]