Consumer Body Faults Sale of Gas to GenCos in Dollars

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The Network for Electricity Consumers Advocacy of Nigeria says the sale of gas to Electricity Generating Companies, using international pricing template is not in the best interest of Nigerians and the GENCOs.

The President of NECAN, Chief Tom Akinbogun, said in Abuja on Wednesday that the supply of gas to the GENCOs with global price benchmark was resulting in high cost of generating electricity. According to him, the inability of the GENCOs to pay for more gas due to the high price of the product is also limiting their capacity to generate more power. Akinbogun said it was very important for government agencies involved in the provision of gas for electricity generation to consider pricing gas in local currency

On new power sector roadmap approved by the Federal Government, Akinbogun called for a strong political will on the part of the government and power stakeholders in the implementation of the new power sector plan. He also advised the Nigerian Electricity Regulatory Commission to be firm on its regulatory responsibilities in the sector. On transmission, he advised the Federal Government to consider handing over the transmission aspect of the chain to the private sector, given the privatisation of the sector and the inability to fully wheel electricity generated by the GENCOs.

Source: Energy Mix

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