Tag: Gencos

Electricity

Consumers kick as DisCos’payment to Gencos drop by 50%

Electricity distribution companies’ payment to generation companies for electricity generation has dropped by 50 per cent. According to industry data, DisCos were unable to pay GenCos full payment for the quantity of power generated in January 2022. As a result, the generation companies recorded a 50 per cent revenue shortfall. A breakdown of the data showed […]

Power generation dropped 43mw after worker's strike - FG
Electricity

Power firms owe banks N861.14bn amid electricity crisis

THE debt owed to Nigerian banks by operators in the power sector rose by 12.83 per cent in one year to N861.14bn in December 2021 amid the lingering problems plaguing the sector since it was privatised over eight years ago, according to the Central Bank of Nigeria data. In July 2020, core investors in the […]

News

Gencos counters NBET over purchase agreements, list N1.64tn debts

Power generation companies on Sunday said the Nigerian market was under threat based on the recent claims by the Nigerian Bulk Electricity Trading Company Plc that only five Gencos had active Power Purchase Agreements in Nigeria. Speaking under the aegis of the Association of Power Generation Companies, the Gencos faulted the claims by NBET, as […]