GenCos Sell N294.16bn Electricity In Five Months
Electricity generation companies in the country sold electricity worth N294.16bn in the first five months of this year to the Nigeria Bulk Electricity Trading Plc.
The government-owned NBET buys electricity in bulk from Gencos through Power Purchase Agreements and...
Collapsed Infrastructure: Electricity Sector Losses N365bn In 6 Months
Insufficient gas supply, distribution and transmission infrastructure have continued to plague the power sector, forcing it to record losses amounting to N365 billion in the first half of 2020, H1’20.
The losses, which also occurred mainly because...
Power Crisis Deepens As NBET Fails To Pay Gencos N181.39bn
The liquidity crisis in the nation’s power sector has taken a turn for the worse as payment to generation companies for the electricity produced and fed into the national grid has slumped to 14.55 per...
Power Crisis: Reps, BPE Differ On Discos, Gencos’ Performance
The House of Representatives and the Bureau of Public Enterprises have differed on the performance of generation and distribution companies after the privatisation of the power sector by the Federal Government.
While the BPE said the privatisation...
GenCos Add 4,000MW Power Capacity, Decry N600bn Debt
Power Generation Companies (GenCos) in Nigeria have said they have raised power plants’ capacity by 4,000 megawatts (MW) seven years after the privatization and despite being owed over N600 billion debts.
Speaking against the call for the traversal...
Gencos Oppose Reversing Privatisation, Allege N1trn Debt
Electricity generation companies on Sunday kicked against calls by the Senate for a reversal of the privatisation of the power sector.
The Gencos also announced that the indebtedness of the power sector to electricity producers had risen to about...
