Gencos lose N1.66tn over non-payment for unused power - Punch Newspapers

10/21/2021 10:15:00 AM

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Gencos lose N1.66tn over non-payment for unused power - Punch Newspapers

The most widely read newspaper in Nigeria

21 October 2021Power generation companies in Nigeria have said they suffered a loss of N1.66tn in seven years as a result of non-payment for deemed capacity.The Executive Secretary, Association of Power Generation Companies, the umbrella body for the Gencos, Dr Joy Ogaji, disclosed this on Wednesday at a stakeholders’ meeting on the Regulators Monitoring Programme on electricity organised by the Wole Soyinka Centre for Investigative Journalism.

Ogaji said the available generation capacity dropped to 6,192.34 megawatts this year from 7,792.51MW in 2020 while the average generation capacity rose to 4,120.96MW from 4,050.07MW.According to the APGC, deemed capacity is the capacity that should have been delivered, but for the system operator’s instruction to a Genco to derate or reduce its capacity to achieve grid balance and stability.

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Wtf! UNUSED POWER.... While some are sleeping in darkness... Power issues in Nigeria should be the greatest shameful and unacceptable excuses from the government to the masses..lost of integrity and accountability over the years..till when good will and wishers for the indigenous people of land obviously become govt desire

Why dont they use it? Are they keeping it? Now its wasted 😏

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Published 21 October 2021 Power generation companies in Nigeria have said they suffered a loss of N1.NNPC spends N1.Published 20 October 2021 Electricity distribution companies have said a total of N97bn was lost in the first quarter of this year to energy theft, capping of estimated billing and other factors.Published 21 October 2021 THE National Salaries, Incomes and Wages Commission has declined the request by PUNCH Nigeria Limited for information on the current military, and police salary structures.

66tn in seven years as a result of non-payment for deemed capacity. The Executive Secretary, Association of Power Generation Companies, the umbrella body for the Gencos, Dr Joy Ogaji, disclosed this on Wednesday at a stakeholders’ meeting on the Regulators Monitoring Programme on electricity organised by the Wole Soyinka Centre for Investigative Journalism.165 trillion to subsidize petrol, for oil exploration and remittance to the Federation Account Allocation Committee (FAAC) in seven months of this year. Ogaji said the available generation capacity dropped to 6,192. It said 23.34 megawatts this year from 7,792.043 trillion done by the national oil company in the first eight months of 2021.51MW in 2020 while the average generation capacity rose to 4,120. N.

96MW from 4,050. On subsidy which NNPC describes as under-recovery of Premium Motor Spirit (PMS) value shortfall, the corporation spent N714.3 per cent in the first quarter of this year, compared to the same period of 2020, buoyed by the hike in electricity tariff.07MW. According to the APGC, deemed capacity is the capacity that should have been delivered, but for the system operator’s instruction to a Genco to derate or reduce its capacity to achieve grid balance and stability. While there was no subsidy spent in January, NNPC spent N25. According to her, 34.3 per cent in March this year from 48.20 per cent (2,117.396bn.” Read Also.

86MW) of the Gencos’ generation capacity are currently stranded, compared to 48.03 per cent (3,742.966bn in April which more than doubled to N126. The ATC losses is now at 25.43MW) in 2020. She said the Gencos recorded a capacity payment loss of N151. The national oil company further incurred a higher cost in petrol subsidy of N164.22bn this year, N266. The Nigerian Electricity Regulatory Commission had in February 2020 announced that it had placed limits on estimated bills that could be issued by electricity distribution companies to unmetered customers.

10bn in 2020, N256.286bn by July; however, by August, the gain was reversed when subsidy cost rose to N173.97bn in 2019, N264.08bn in 2018, N236. The Minister of State, Petroleum Resources, Timipre Sylva, has continually reiterated that the government was committed to ensuring the total removal of subsidy from next year especially with the implementation of the Petroleum Industry Act (PIA) as Nigerians await the impact of the decision. Read Also.47bn in 2017, N273.32bn in 2016 and N214.681bn on frontier oil exploration in seven months with the highest expenditure done in August.

93bn in 2015. The government-owned Nigerian Bulk Electricity Trading Plc buys electricity in bulk from Gencos through Power Purchase Agreements and sells through vesting contracts to the distribution companies, which then supply it to the consumers.964bn on exploration activities in January, the bill slightly dropped to N1. On the stranded generation capacity, Ogaji said, “The generation companies are willing to make that power available but the system is not able to take it. So, whether or not it is because Nigerians are not taking the power or they are not able to pay or we are having infrastructural challenges is what government needs to investigate and resolve because this is eight years post-privatisation.250bn in March.” According to her, the installed generation capacity at the Gencos’ power stations is about 13,427MW.

Read Also .216bn in May, and dropping to N2.