DisCos’ Debts to MO Hit N120.7bn

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The indebtedness of power distribution companies to the electricity market operator, in terms of stipulated remittances to the MO, has risen to N120.7bn, The Punch reports.

It was gathered that the shortfall in remittances by the 11 Discos to the MO had been accumulating since the commencement of the Transitional Electricity Market in January 2015. In its August 2017 report on the summary of Discos’ invoices and remittances, the market operator stated that aside from Eko and Yola Discos, all the other power distributors owed more than N8bn.

An analysis of the report showed that the indebtedness of the power firms increased from the N111.4bn recorded in April this year to N120.7bn in June, which was the most recent month in the records of the MO since the commencement of TEM.

Source: EnergyMix

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