Nigerians consumed $509.63 million (N193.66 billion) worth of electricity in just four months of September, October, November, and December 2019.
The power industry regulator, Nigerian Electricity Regulatory Commission (NERC), which declared this in a document sighted by New Telegraph at the weekend, maintained that the power consumption pattern was reflected in the total invoice of N193.66billion issued to 11 distribution companies for energy received from the Nigeria Bulk Electricity Trading Company (NBET).
It added, however, that though the N193.66 billion invoices were issued in the fourth quarter of 2019, the 11 electricity distribution companies (DisCos) failed to remit N119.46 billion out of the money to the market operator (MO).
NERC, in its report on the quarter under review, said: "But only a total of N74.20 billion (i.e., 38.32 percent) of the invoice was settled as and when due, creating a total deficit of N119.46 billion including tariff shortfall…
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