Electricity: GenCos urge govt, stakeholders to pay debts

The Power Generation Companies , have appealed to the Federal Government and key stakeholders to settle electricity debts owned them for electricity generation to enable them remain in business.

”And consumed on the national grid, which is currently threatening the continued operation of their power generation plants. According to him, this huge debt is now greatly inhibiting GenCos ability to meet their obligations to enders, Operations and Maintenance spare parts procurements, and employee related obligation.

Bello said that GenCos liquidity challenges was further worsened by the various policies introduced such as the payment waterfall in the Nigeria Electricity Supply Industry , which deprioritises payment to them.

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