The Association of Power Generating Companies (APGC) has countered the alleged accusations made by some Distribution Companies (DisCos) of inflating the monthly energy invoice, Daily Trust reports.
The Executive Secretary of APGC, Dr. Joy Ogaji, in a statement yesterday, said the DisCos should provide evidence to prove the allegation, saying, “He who asserts must prove.” “Trying to smear our image with such baseless and unfounded allegations is not only unfair but misleading to the Nigerian populace: giving the impression that the sector is not regulated, and that market participants can do as they please,” she added.
On the call for removal of capacity charges from the invoices, APGC, representing over 20 GenCos, said it was a global practice. “Capacity payment is needed in order to guarantee energy supplies and to keep the prices as low as possible. Without a capacity payment system, new investments in power plants will come to a standstill. It incentivises the GenCos to make capacity available when it is needed most,” Ogaji said.