Tag: GenCos

Electricity: GenCos Urge Govt, Stakeholders To Pay Debts

ADEOLA YUSUF

The Power Generation Companies (GenCos), have appealed to the Federal Government and key stakeholders to settle electricity debts owned by them for electricity generation to enable them to remain in business. The Board Chairman, of Power Generation Companies, Retired Col. Sani Bello said this in a statement in Abuja on Sunday. Bello said: ”GenCos are constrained to issue this release to draw the attention of the Federal Government and key stakeholders to the need to urgently address the issue of inadequate payment for electricity generated by them. ”And consumed on…

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Meet Targets Or Face Penalties, Govt Reads Riot Act To DisCos, GenCos

Aliyu Aliyu

Power operators, including generating firms or GENCOs, the TCN and DISCOs have signed contracts with the government outlining specific amounts of electricity they will be offering customers   The Nigerian government has said that electricity companies that fail to deliver assigned volumes will face penalties under newly agreed contracts. The step will be taken as part of measures to boost power supply in the country, and explains the government’s recent assurance that supply will improve from July, power minister Abubakar Aliyu said Wednesday. READ ALSO: I Am Angry With State…

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DisCos’ Remittances to GenCos Crash by N35bn In One Month

Abibat Babalola

How GenCos suffered 50% revenue shortfall in January 2022 The payment by electricity distribution companies to generation companies for power generation in January has crashed by N35 billion, a dip of 50 per cent. The industry statistics showed that DisCos were unable to pay GenCos full payment for the quantity of power generated in January 2022. As a result, the generation companies recorded a 50 per cent revenue shortfall. A breakdown of the data showed, according to a report by PUNCH, that although the 26 generating plants submitted an invoice…

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