Electricity generation companies (Gencos) in a note made available by the Executive Secretary of the Association of Power Generation Companies (APGC), Dr. Joy Ogaji, have accused the Nigerian Government of taking power from them and selling to countries in the West African region under the West African Power Pool (WAPP) on non- commercial but diplomatic terms.
The generation companies stated that the agreement on the daily export of about 300 megawatts (MW) of electricity to African countries did not take into account the commercial frameworks in Nigeria’s electricity market such as the Multi Year Tariff Order (MYTO) upon which the gencos also produce power. The arrangement, they said, had made the deal shrouded in opacity as they often do not know the monetary benefit accruing to them from such sales.
The Gencos also declared that they do not have absolute confidence in the ability of the sector regulator – Nigerian Electricity Regulatory Commission (NERC), to opti-mally regulate the power market, stating that although NERC had reportedly been fragile in the past, it currently has no control of developments in the market.
Source: THIS DAY