FG silent on Gencos key reasons that can cause nationwide blackout
Apart from the rejection of fresh government’s plan to handover the management of N72 billion financial investments it intends to inject into the distribution network nationwide to the Transmission Company of Nigeria (TCN) for management, power Generation Companies (Gencos), have listed a number of conditions to avoid operational shutdown nationwide.
Top in the list of the conditions handed over to the federal government by the Gencos is the immediate payment of the outstanding balance due to them under the N213 billion Nigeria Electricity Market Stabilisation Facility (NEMSF) created by the Central Bank of Nigeria (CBN) in 2013.
Also, Gencos want the federal government to pay them the outstanding balance for power generated as at January 2015 before the Transition Electricity Market (TEM) took off, as well as outstanding invoices for power supplied to the grid between February 2015 and December, 2016 with accrued interests.
Besides, the generation firms have further identified low power transmission caused by the persistent directive from the National Control Centre (NCC) to generation companies to generate electricity below optimal level as key challenge in meeting robust nationwide power supply.
