GenCos Reiterate Outstanding Payments Exceed N6.2trn
The Chief Executive Officer (CEO) of the Association of Power Generation Companies (APGC), Dr Joy Ogaji, in her statement, said that the debts continue to accumulate because GenCos are not fully paid for their output, despite incurring high costs for gas supply, plant maintenance, foreign exchange exposure, and financing obligations.
We’re Owed Over N6trn, Operationally Strained, GenCos Voice Out, Say They Deserve Pity Not Condemnation
The association maintained that GenCos are entitled to roughly 60 per cent of market receivables from invoiced energy bills, yet despite this, they face immense financial risks in the electricity value chain.
FG to Pay GenCos ₦2 Trillion Amid Blackout Threats
The Federal government has pledged to pay ₦2 trillion to power generation companies (GenCos) as part of efforts to address a growing debt crisis in the electricity sector. The move comes after GenCos, under the Association of Power Generation Companies (APGC), warned they may shut down operations due to unpaid debts now exceeding ₦4 trillion. […]