The Federal Government of Nigeria has begun the settlement of a N4 trillion debt owed to power generation companies, with five GenCos already captured in the first phase of the payment process. The development was confirmed by Nigerian Electricity Regulatory Commission, which said the settlement is part of ongoing efforts to address legacy obligations that […]
The Federal Government has finalised the implementation framework for a N4 trillion government-backed bond designed to settle verified arrears owed to power Generation Companies (GenCos) and gas suppliers. This was disclosed by Mrs Olu Verheijen, Special Adviser to the President on Energy, in a statement posted on X (formerly Twitter) on Tuesday in Abuja. According […]
President Bola Tinubu has appealed to power generation companies (GENCOs) to give the federal government more time to verify and validate longstanding debts estimated at N4 trillion. Speaking at a high-level meeting with members of the Association of Power Generation Companies, led by Col. Sani Bello (rtd), on Friday at the Presidential Villa, Tinubu reaffirmed […]
Electricity Generation Companies (GenCos) comprising gas-fired and hydro- stations have attributed their inability to generate 3,067.5 megawatts of electricity on Monday to unavailability of gas. This information was disclosed in a daily energy report by the Advisory Power Team, office of the Vice President in Abuja on Tuesday. The report also noted that 135.4 megawatts of electricity […]
The Power Generation Companies (GenCos) have threatened to shut down power generation supply if pressing issues in the sector are not addressed. The GenCos spoke through the Executive Secretary, Association of Power Generation Companies (APGC), Dr. Joy Ogaji at a news conference in Abuja on Sunday. Ogaji explained that the main reason for considering taking […]
Electricity Generation Companies (GenCos), comprising gas-fired and hydro stations, said they released an average of 3,280 megawatts/hour of electricity into the national grid on Thursday. I want to be remembered for transforming education, says Obaseki This is contained in a daily energy report by the Advisory Power Team, office of the Vice President, a copy […]
…says Nigerians can’t continue paying for darkness Ukpono Ukpong – Abuja Frowned by media reports of Federal government’s plans to divest 40% of its shares in DISCOs and GENCOs, the organized labour has warned against any move to increase the electricity tariff noting that Nigerians rarely gets power in their houses even as factories are […]
…says TCN is ignorant of market Electricity Generation Companies (GenCos) on Sunday provided clarifications on the allegation by the Transmission Company of Nigeria (TCN) that GenCos falsify their capacity declarations for financial claims. In a press statement signed by Ndidi Mbah, media officer of Association of Power Generation Companies (APGC), the umbrella body of the […]
The Nigeria Bulk Electricity Trading Plc (NBET) has disbursed a total of N152.974 billion to 23 power generation companies (GenCos) within the first seven months of 2017, according to a report. This disbursement represented 21.6 percent of the N701 billion payment support facility provided by the Central Bank of Nigeria (CBN) for Nigeria’s power sector […]
Electricity Distribution Companies, DISCOs, Generation Companies, GENCOs, are currently receiving backlashes from their workers, under the platform of National Union of Electricity Employees, NUEE, for failing to provide working tools and other materials since the privatisation of the power sector four years ago. The union in a communiqué at the end of its National Executive […]
Alaoji, Geregu, Calabar to have new owners Simon Ugwu Three electricity generation companies (Gencos) built by the Niger Delta Power Holding Company (NDPHC) under the National Integrated Power Projects (NIPPs) would soon be sold to private investors in continuation of the 2013 NIPP privatisation that was suspended, the Managing Director of NDPHC, Mr. Chiedu Ugbo, […]
Nigerians are being exploited, cheated and robbed by the electricity distribution companies, and what should be rightly seen as the most irresponsible and annoying style of stealing from law abiding citizens is being ignored by many when the likes of the Nigeria Police and the EFCC who should be working day and night trying to […]
State governments are free to generate and distribute their own power, subject rules by the Nigerian Electricity Regulatory Commission. Heavy consumers of power also have the liberty to purchase energy from sources other than Distribution Companies (DISCOs) but will have to pay a rate between N30-N80 per kilowatt. This was stated in a communique issued […]
Nigeria’s West African neighbours, Benin and Niger Republic, may face total electricity blackout, following a threat by the Nigerian Bulk Electricity Trading (NBET) Company Plc and the Transmission Company of Nigeria (TCN) to disconnect them from its supply sources any time from now. Nigeria has, over the years, been the major providers of electricity to […]