Electricity Generating Companies, Gencos at the weekend accused Transmission Company of Nigeria, TCN of rubbishing the Federal Government and stakeholders’ efforts at ensuring stable electricity across the country.
Gencos, under the auspices of Association of Power Generation Companies, APGC, were reacting to comments by TCN, that power generating companies falsify their capacity declarations for financial claims.
Executive Secretary of APGC, Mrs Joy Ogaji, sees TCN’s allegation as malicious, baseless and an exhibition of ignorance of the electricity market proceedings.
However, she says that it was important that GenCos were not currently paid on capacity declaration but only on delivered capacity. Delivered capacity in this regard, she said, means converting metered energy to capacity, a practice which is unknown or practised by any electricity market in the world.
She said: “This allegation was indicting, not just the current administration’s efforts to increase power generation in the country, but also efforts by all players in the value chain, as they were being portrayed as relying on fraudulent data.
“Early this year, the Vice President, Yemi Osinbajo disclosed that for the first time the country’s power generation capacity rose above 7,000 megawatts (MW), with delivered capacity at about 5,100MW.
“This was further corroborated by the Minister of Power, Works and Housing, Babatunde Fashola, who also confirmed same generation capacity.
“Similarly, His Excellency, President Muhammadu Buhari in his Democracy Day speech on May 29, said the country’s current available power generation capacity stood at about 7,500 MW. And here comes an allegation from a reputable government organisation faulting the government’s submissions.”
Ogaji argued that if the President and all other top government officials based their information on data provided by the NCC which TCN is discrediting, then TCN has serious questions to answer.
Credit: Vanguard
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