The Association of Power
Generation Companies (APGC) has threatened to shut down power plants across the
country.
In a statement issued in Abuja on
Sunday, Joy Ogaji, executive secretary of APGC, said the decision was made
owing to the indebtedness of the Nigerian Bulk Electricity Trading Company
(NBET) to the GenCos.
APGC, the umbrella body of the
GenCos, said its members will not accede to the 0.75% administrative charge by
NBET for payment of gas invoices on their behalf.
“NBET has now reduced its role to
blackmailing/threatening GenCo investors/Chairmen who have refused to concede
to NBET’s illegal demand of a 0.75% charge on invoices paid to gas suppliers,”
Ogaji said.
“NBET has clearly threatened not
to release payments due GenCos until they accede to NBET’s request, urging them
to agree for a quid pro quo with the 0.75% administrative charge.
“This singular action by NBET,
may lead to shutdown of power supply by GenCos, who have unanimously agreed to
call the bluff of NBET.
“A lot of Nigerians are aware of
the liquidity challenge Generating Companies (GenCos) are faced with due to
NBET’s breach of the Power Purchase Agreement (PPA) terms of 100% payment for
power generated and supplied.
“GenCos indebtedness to their gas
suppliers is due to NBET’s indebtedness to them. No Genco has any outstanding
gas payment that is more than what NBET is owing the Genco. Put differently,
NBET is indirectly charging 0.75% for paying its debt to GenCos!!!”
In January, the electricity
generation companies threatened to shut down power plants nationwide if their
challenges were not addressed.
Ogaji had said the challenges are
gas constraints, on-going maintenance of power plants and low demand by
electricity distribution companies (DisCos).
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