Nigeria may experience widespread blackout soon as power generation companies have unanimously agreed to call the bluff of the Nigerian Bulk Electricity Trading Company by shutting down power production and supply.
At a briefing in Abuja on Sunday, the Executive Secretary, Association of Power Generation Companies, an umbrella body for the power firms, Joy Ogaji, said NBET’s insistence to impose a 0.75 per cent administrative charge on Gencos for payment of gas invoices was the reason for the imminent power shutdown by Gencos.
It was also gathered that the indebtedness of NBET to power generation companies had risen above N1tn.
NBET is licensed and regulated by the Nigerian Electricity Regulatory Commission to undertake bulk purchase and resale of electricity in the Transitional Electricity Market.
In September, The PUNCH reported that NBET demanded an administrative charge of 0.75 per cent from the Gencos for the payment of gas invoices on their (Gencos) behalf.
Although this was rebuffed by the Gencos, as well as the Bureau of Public Enterprises and was not approved by NERC, NBET insisted on implementing it.
Speaking to journalists on Sunday, Ogaji said, “This singular action by NBET may lead to the shutdown of power supply by Gencos, who have unanimously agreed to call the bluff of NBET.”
Source: Punch Newspaper
