- The grid hit a peak generation of 4,718.8MW on Saturday.
- The amount was N194.4 billion short of the N453.31 billion invoiced for electricity supplied.
Following a report from the Nigeria Bulk Electricity Trading Plc (NBET), electricity consumers in the country paid N258.91 billion for electricity in the first seven months of 2022 despite the epileptic power supply and frequent blackouts due to the national grid collapse. The report showed that the amount was N194.4 billion short of the N453.31 billion invoiced for electricity supplied. The figure was also 24.91 per cent short of the Minimum Remittance Order (MRO) set by the Nigerian Electricity Regulatory Commission (NERC) for electricity Distribution Companies (DisCos). Eight DisCos, except for Eko, Ikeja and Yola, are yet to meet the requirements of the MRO.
Also, as part of efforts by the government to improve the electricity supply. NERC had, on July 1, activated a partial Power Purchase Agreement (PPA) with Generation Companies (GenCos) for the supply of 5,505 megawatts of electricity for peak generation and a base load of 4,893MW. This agreement guarantees payment for gas supplied to the GenCos by gas companies and also ensures that the generation companies are paid for power supplied to the national grid. The new partial PPA means that all the 25 power generation plants on the grid now have an agreement to generate a certain amount of power and get paid for it.
Power generation data released by the National System Operator (NSO), a unit in the Transmission Company of Nigeria (TCN), showed that the grid hit a peak generation of 4,718.8MW on Saturday.