GenCos want coordinated approach to address power sector challenges

The Power Generation Companies (GenCos), have called for coordinated approach by all stakeholders in the Nigeria Electricity Supply Industry (NESI) to address  issues in power industry.
GenCos want coordinated approach to address power sector challengesMrs Joy Ogaji, Executive Secretary, Association of Power Generation Companies of Nigeria (APGC), made the call in a statement in Abuja on Sunday.
Ogaji  said that such coordinated effort would realistically and sustainably address issues of the power sector so that Nigerians could  have access to reliable electricity supply.
She noted that such collaboration would: “Ensure Effectiveness of all market agreements, firm monitoring and enforcement of the rules by the regulator on all market participants.
“Ensure that the monitoring and enforcement agencies in the sector procure and improve data quality to enable efficiency and improved future planning and projection.”
According to her, the National Assembly (NASS), and the Presidency also have a monitoring role in the power sector by reviewing the quarterly reports from Nigeria Electricity Regulatory Commission and its activities.
Speaking on the recent call by the senate to reverse the privatisation of the power sector,  she said that the GenCos empathised with Nigerians on the current abysmal situation of electricity supply.
“We also understand that this might have led to the frustration expressed by the senate in calling for an outright cancellation of the privatisation of the power sector.
“It is very pertinent to state that the reversal of the privatisation exercise of 2013 is not the solution to resolving the current abysmal state of the sector.
“As responsible corporate citizens we are going to use this medium to provide additional insight into the challenges plaguing the sector and proffer a pragmatic approach toward increasing and sustaining electricity supply to Nigerians,” she said.
Ogaji  noted that the current situation in the sector was adversely affecting operations of the GenCos thereby jeopardising their investments.
She said the situation had a very high potential to negatively impact the inflow of Foreign Direct Investments to the country.
She said that GENCOs had made large scale investments and taken business risks in the power sector.
“Consequently, they  fulfilled their own part of the obligations as stated in the stipulated terms and guidelines at the inception in November 2013.
“The GENCOs as responsible and patriotic operators continue to demonstrate absolute commitment by operating at their maximum available capacities even in the face of national grid constraints.”
She gave “outstanding debts owed by the federal government and failure of government agencies and other operators in the power value chain to honour their commitments” as constraints.
She said such were “as per stipulated terms and guidelines for an effective and efficient power supply system in Nigeria”.
Ogaji reiterated the GenCos  commitment to a vibrant and efficient NESI and their willingness to continue to be part of creating workable and sustainable solutions to the challenges of the sector.

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