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GenCos Sell N294.16bn Electricity In Five Months

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...

Fed Govt To Fund Electricity Agency With N152bn In 2021

Fed Govt To Fund Electricity Agency With N152bn In 2021     In spite of the public outrage over last week’s electricity tariff hike which the government said it was meant to fund electricity infrastructure, the federal government is set to spend additional N152.416 billion in funding...

Electricity: Banks To Ensure DISCOs Pay NBET, TCN Debts — CBN

Electricity: Banks To Ensure DISCOs Pay NBET, TCN Debts — CBN       Deposit Money Banks have been requested by Central Bank of Nigeria, CBN, to ensure that Electricity Distribution Companies, DISCOs, pay for consumed power they were provided guarantees. This is part of a renewed effort to...

Discos’ Debt To NBET Rises To N173bn

Discos’ Debt To NBET Rises To N173bn     Power distribution companies in the country failed to remit a total of N173.35bn to the Nigerian Bulk Electricity Trading Plc for the electricity sold to them in the first four months of this year. The government-owned NBET buys electricity...

NBET Owes Power Stations N120bn In Three Months

NBET Owes Power Stations N120bn In Three Months     The Nigeria Bulk Electricity Trading Plc failed to pay 25 power producers a total of N119.55bn in the first three months of this year for the electricity produced and fed into the national grid. The government-owned NBET buys...

FG Tasks NBET Board To De-risk Power Sector

FG Tasks NBET Board To De-risk Power Sector     The Federal Government, yesterday, reconstituted the Board of the Nigerian Bulk Electricity Trading Company (NBET) and charged the members to explore all options of de-risking the power sector for value addition to the country. The Minister of Finance,...