– The debt owed by the gas-fired Generation Companies has cut further supply from the firms
– Dr Ogaji has supported the declearation of Mr Babatunde Fashola, that custormers who have the capacity to procure power can do so directly from the GenCos
– this declaration will boost liquidity in the power sector and also stimulate more competition for the DisCos
At a briefing held in Abuja yesterday, The Executive Secretary, Dr Joy Ogaji said GenCos are only operating few tribunes to generate power based on the quantum of gas they can be able to pay for immediately.
Dr Ogaji gave her reasons saying, ‘To procure gas, we need money. Currently, GenCos are being owed #600 billion and owe gas companies nearly #200 billion. Most gas suppliers now say they can’t supply anymore until we pay’.
It was reported on Tuesday that 35 turbines were idle across 15 gas-fired GenCos, causing the loss of 2,514mw mostly due to poor funding of gas fuel.
Record has shown that national grid dropped to 3,914 megawatts yesterday as opposed to the 4,400mw attained on Monday.
Dr Ogaji has also supported the declaration of Mr Babatunde Fashola, the Minister of Power, Works and Housing that certain customers who have the capacity and are willing to procure power can do so directly from the GenCos without using the Distribution Companies (DisCos).
The eligible customer directive is yet to commence as she said the Nigerian Electricity regulatory Commission (NERC) is working on the framework that will address registration process, tariff setting among others.
She said this declaration will boost liquidity in the power sector and also stimulate more competition for the DisCos, the Transmission Company of Nigeria (TCN) and the GenCos to serve customers better.