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NERC: Electricity Consumers’ Debt Hits N62.2bn In Three Months

The indebtedness of power consumers to electricity distribution companies hit N62.2bn within a space of three months, the Nigerian Electricity Regulatory Commission has said.

The debt was recorded in the second quarter of last year.

According to NERC in its latest report on the commercial performance of the power sector, electricity users paid N111.5bn out of the total of N173.7bn that was given to them as bill by the 11 power distribution companies operating in Nigeria.

The commission said the indebtedness, which was recorded in the second quarter of 2018, was contributory to the financial illiquidity in the power sector, adding that the liquidity crisis in the sector had remained one of the major challenges in the industry.

NERC said, “Financial illiquidity remains one of the most significant challenges threatening the sustainability of the power industry. The liquidity challenge is partly attributed to the non-implementation of cost-reflective tariffs, high technical and commercial losses exacerbated by energy theft, and consumers’ apathy to payments under the widely prevailing practice of estimated billing.

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