Nigeria In One Minute
We haven’t been paid since June, power producers lament
Electricity generation companies under the aegis of the Association of Power Generation Companies have said they have not been paid since June for power produced, sold and put on the national grid.
The government-owned Nigerian Bulk Electricity Trading Plc buys electricity in bulk from the Gencos through the Power Purchase Agreement and sells to the distribution companies, which then supply it to the consumers.
The Executive Secretary, APGC, the umbrella body for the Gencos, Dr Joy Ogaji, told The PUNCH correspondent in an emailed response to questions on Wednesday that the Discos had continuously defaulted in their monthly remittances to the NBET.
Citing reports from the NBET, she stated that out of the N44.85bn invoice sent to the Discos in January, only N6.08bn was received from four of the firms, while seven others paid nothing.
The PUNCH, October 26, 2018
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