GenCos Foresee Shut Down Of Thermal Plants over N600bn Debt

Electricity generation in the country is facing fresh threat as Generating Companies (GenCos) have foreseen a gradual shut down of thermal plants that are powered by gas.

The Gencos raised the alarm as a result of their inability to sustain operations in the light of the over N600 billion debt owed them by the Nigerian Electricity Bulk Trading Company (NBET), an agency of the Federal Ministry of Power.

The GenCos lamented that they are now cash strapped and unable to pay gas suppliers who are now diverting supplies for other uses like Liquefied Petroleum Gas (LPG) or cooking gas whose demand is currently growing.

LEADERSHIP, January 31, 2018

 

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