The Power Generation Companies (GenCos), have appealed to the Federal Government to settle electricity debts owned them for electricity generation to enable them remain in business.
Retired Col. Sani Bello, the Board Chairman, Power Generation Companies said this in a statement in Abuja on Sunday.
Bello said: ”GenCos are constrained to issue this release to draw the attention of the Federal Government and key stakeholders to the need to urgently address the issue of inadequate payment for electricity generated by them.
”And consumed on the national grid, which is currently threatening the continued operation of their power generation plants.
”GenCos are currently owed more than two trillion naira for power they generated, put unto the national grid, and consumed by end users.
”This is in addition to the more than 1.7 trillion naira funding gap created in the recent supplementary Multi Year Tariff Order (MYTO) 2024…
Source: Guardian Newspaper
