Nigeria Loses $29.3b Yearly To Erratic Power Supply

TCN
TCN

The electricity generation companies (GENCOS) has said the country loses twenty-nine point three billion dollars yearly to low supply resulting from load shedding and inadequate facilities.

The executive secretary, association of power generation companies (APGC), Joy Ogaji, in a statement  urged the Transmission Company of Nigeria (TCN) to upgrade its network to absorb the 8,000megawatts (MW) capacity of the GENCOS.

Mrs. Ogaji, a lawyer, also sought a strict regulation of the transmission and distribution chains of the Nigeria Electricity Supply Industry (NESI) to compel the distribution companies (DISCOS) to remit the revenue they collect from their customers to the market operator.

She said if power output must improve, the Transmission and Distribution arms of the power chain must be strictly regulated while the transmission grid must be upgraded to ensure 8000mw available capacity from GENCOS is put on the grid.

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