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D-Day for electricity Discos

05 December 2013, 19:07Augustine Osayande

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 approaches.

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


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