Power distribution firms owe govt – NERC
Of the 11 electricity distribution companies in the country, only three have so far remitted to the Federal Government money due it, the Nigerian Electricity Regulatory Commission has said.
According to NERC, the development is in spite of the commendable improvement in revenue collection by the companies.
The commission, in a document on its third meeting with the power sector operators, noted that the defaulting firms would be contacted to explain why they failed to file their statements of accounts.
The document, which was made available to our correspondent by the Head, Public Affairs, NERC, Dr. Usman Arabi, stated that most Discos and power generating companies were up to date with their audit requirements for 2012, adding that out of the 11 Discos, nine had sent in their bank statements.
It stated, “The Market Operator’s response is being awaited for the matching review exercise, which is going to be conducted soon. Despite an obvious improvement in collection, only three Discos made full remittances.
“Eight Discos did not meet baseline remittances. The NERC is to send out a notice to the defaulting companies to allow for explanation/justification for late filing of statements of account within a specified timeframe in line with due process.”
The NERC also noted that it had informed President Goodluck Jonathan about the issue of indebtedness by the power firms and stressed that the Federal Government would not tolerate such an action.
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