Gencos May Stop Operations Over Administrative Charge   Power generation companies are considering declaring a force majeure by halting the production of electricity nationwide. According to them, the force majeure may take effect soon following the recent introduction of an unregulated administrative charge placed on Gencos by...

Power: Distributors Fail To Remit N1.16trn To NBET   Power distribution companies in the country failed to remit a total of N1.156trn to the Nigerian Bulk Electricity Trading Plc for the electricity sold to them as of February 2019. Discos’ total debt to NBET stood at N890bn...

IPP Agreement: NBET Saves Nigeria $2.4bn Tariff From Renegotion   The Nigerian Bulk Electricity Trading Plc (NBET) has renegotiated the commercial terms it agreed in 2016 with promoters of 14 utility scale solar Independent Power Plants (IPPs), From the renegotiation, it gathered that it was able to...

Power Distributors Owe TCN, Others N263bn Power distribution companies owe service providers, including the Transmission Company of Nigeria, a total of N263bn, our correspondent has learnt. The service providers in the power sector are the Nigerian Electricity Regulatory Commission, the Nigerian Bulk Electricity Trading Plc, the...

FG Mulls Fresh N600bn Palliatives For Gencos The Nigerian Bulk Electricity Trading Plc (NBET) has recommended additional N600 billion under the ‘Payment Assurance Guarantee (PAG)’ for the power generation companies (Gencos), THISDAY has learnt. PAG was first set up in 2017 by the NBET to, among...

FG Lost N90bn To NBET’s Breach Of Procurement Act - Reps   The House of Representatives has resolved to investigate the alleged breach of the Public Procurement Act by the management of the Nigerian Bulk Electricity Trading Plc, leading to the loss of N90bn by the...