100 % Unpaid Invoices Causing Liquidity Problems in Power Sector

images (1)

Market Operators in the power sector have cited the non-recovery and unpaid 100 per cent of its invoices as one of the major liquidity problems confronting the sector and hindering it from efficient service delivery.

In addition, they said that infrastructure challenges are still holding the market from growing to its potential three years into the privatisation of the electricity market with over two years of operating the Transitional Electricity Market (TEM).

The Executive Director, Market Operator, Moshood Saleeman and the Head, Independent System Operations (ISO), Musa Gumel, identified these problems while speaking at a stakeholders forum organised by Market Operators. This was meant to stipulate the market rule and eliminate blame games in Nigerian Electricity Market (NEM).

Although, they did not specify the exact amount which the 100 per cent invoice translated into, the Head of ISO, charged the operators from the various value-chain of power the system would proffer innovative solutions to get the operators out of the woods.

He said: “With regards to System Operations, we are trying as much as possible to upgrade the manpower of our system operators as well as infrastructure to be able to manage the system more efficiently and minimise system collapses to ensure stable flow of electricity in the system”.

Saleeman, regretted that Nigeria with the highest population and a high Gross Domestic Product (GDP) in Africa, more than half of the population does not have access to grid connected electricity supply.

He maintained that as all sectors of the economy are dependent on efficient service delivery from the power sector for growth, much is expected from the power sector and the blame game for non-performance should be stopped.

Source: The Guardian

(Visited 59 times, 1 visits today)

Powered by Nextier