Connect with us


Darkness looms as GenCos threaten shutdown over NBET’s highhandedness



Electricity generation companies (GenCos) have said they might be forced to shutdown their plants nationwide over a ‘new policy’ of the Nigerian Bulk Electricity Trading Plc (NBET).

The Association of Power Generation Companies (APGC) at a press conference in Abuja, claimed that the NBET had demanded from the GenCos a 0.75 percent administrative charge for gas as a prerequisite to accessing a N600 billion Federal Government intervention fund.

The GenCos however, rejected the alleged fee, arguing that there was no policy directive to that effect by the Nigerian Electricity Regulatory Commission (NERC).

The Executive Secretary of APGC, Joy Ogaji, said the move might lead to the shutdown of power supply by GenCos, who had unanimously agreed to “call the bluff of NBET.”

Ogaji said: “The situation is truly grave and completely unprecedented as NBET has completely shed its role as a licensee of the industry and taken on some sorts of regulatory role.

She stressed that “If NBET’s excesses are not checked and the N600 billion fund is not release in time, whether we deliberately shut down or not, the machine would shut down. Gas suppliers have stopped giving gas to some of the GenCos.

Ogaji recalled that the electric bulk buying firm was introduced into the market as a service provider with a mandate of making the generation business viable, but alleged that it had since abdicated its role.

She urged government to revert to the Market Operator (MO) while the NBET focuses on engagements with new entrants or prospective power project developers.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *