•Gencos blame failure on lack of contractual details
•Describe current power industry solutions as knee jerked, shortsighted
The hope of an improved power supply in Nigeria may have dwindled following the failure of the anticipated minimum 5000 megawatts (mw) Power Purchase Agreement (PPA) activated by market participants in the second quarter of 2022 under the coordination of the Nigerian Electricity Regulatory Commission (NERC) and the Nigerian Bulk Electricity Trading Company (NBET).
NERC had on June 15, 2022, announced in Lagos, that market participants including Gencos, distribution companies (Discos), Transmission Company of Nigeria (TCN), gas suppliers and NBET had signed a contract that would ensure that at least 5000mw of power was generated, paid for 100 per cent and successfully delivered to consumers on a daily basis with effect from July 1, 2022.
But Gencos have now finally broken their silence on the failure of the deal,…
Source: Thisday Newspaper