Abuja - The eight distribution
companies (Discos) that have failed to remit payments to the Transmission
Company of Nigeria (TCN) face a defining moment as the deadline to remit
The companies have up till Thursday to make the payments.
"As at Monday only Eko, Ikeja and to some extent Kaduna have remitted what
they are supposed to remit to the market operator, and we have given a deadline
of Thursday for distribution companies to remit their statutory remittances to
the market operator's accounts," said chairman of Nigerian Electricity Regulatory Commission
(NERC), Dr Sam Amadi.
According to him, the total amount of money for energy cost that was remitted
to the market operator was about N2 billion, while an outstanding remittance of
N10 billion was still pending from eight discos.
He said only Eko, Ikeja and Kaduna Discos had so far met their statutory remittances
of the cost of energy allocated to them.
Amadi noted, however, that more payments might have been made by other Discos
which the regulator was yet to get an update on.
It could not be ascertained what action NERC will impose on the Discos.
- CAJ News