The Power Generation Companies (GenCos), have threatened to shut down power generation supply if pressing issues in the sector are not addressed.
The GenCos spoke through the Executive Secretary, Association of Power Generation Companies (APGC), Dr Joy Ogaji at a news conference in Abuja on Sunday.
Ogaji explained that the main reason for considering to take such action was due to the inability of Nigerian Bulk Electricity Trading Company (NBET) to honour agreement it had with GenCos.
She said GenCos were facing liquidity challenge due to NBET’s breach of the Power Purchase Agreement (PPA) terms of 100 per cent payment for power generated and supplied.
News Agency of Nigeria (NAN) reports that NBET (Bulk Trader) is a trading licensee.
It is licensed and regulated by the Nigerian Electricity Regulatory Commission (NERC) to undertake bulk purchase and resale of electricity in the Transitional Electricity Market.
She accused NBET’s management of…
Source: Vanguard Newspaper
