We don’t want to put Nigeria in darkness-GenCos
Post created on 8:50 am
The Association of Power Generation Companies (APGC) in Nigeria, debunked the claims that it intends is to keep the country in darkness except federal government paid N1.6 trillion debts.
Executive secretary of the association, Dr. Joy Ogaji, speaking in Abuja refused claims by the Nigeria Bulk Electricity Trading Company Plc, that only five Gencos have active power purchase agreements
She said such claim post a serious threat to the country’s Electricity Supply Industry.
“The fact that NBET claims that they have only five active PPAs shows that most of the power plants do not have power purchase agreements (PPAs).
“This situation is a scary scenario for any investor as no guarantee of any sort is in place to assure return on investments”
Ogaji therefore concluded that the absence of Power Purchase Agreements, as claimed by the Nigerian Bulk Electricity Trading Company Plc, NBET shows that Gencos are exposed to the vagaries in the downstream electricity market.