Chairman of NERC, Dr. Sam Amadi
Chineme Okafor in Abuja
The seeming failure of successor distribution companies carved out of the Power Holding Company of Nigeria (PHCN) to show some level of financial prudency in their revenue collection, may have led to the reluctance of the Nigerian Bulk Electricity Trading Company (NBET) Plc to sign a vesting contract with any of them, THISDAY has learnt.
Chineme Okafor in Abuja
The seeming failure of successor distribution companies carved out of the Power Holding Company of Nigeria (PHCN) to show some level of financial prudency in their revenue collection, may have led to the reluctance of the Nigerian Bulk Electricity Trading Company (NBET) Plc to sign a vesting contract with any of them, THISDAY has learnt.
Checks by THISDAY revealed that NBET, which is also referred to as the ‘Bulk Trader’ has yet to sign any vesting contract with PHCN discos fearing that money expended by it to purchase electricity from generating companies may not be paid back to it by the discos whose revenue collection rate has remained low in spite of an operational cost-reflective tariff in the sector
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