The unbundling of the Power Holding Company of Nigeria (PHCN) has been completed.
Ten Distribution Companies (DISCOs) and five Generation Companies (GENCOs) have been handed the successor companies that rose from the balkanisation of the defunct PHCN.
The companies are those which completed the payment of the 75% balance on their bid price for the companies.
Minister of Power Professor Chinedu Nebo said by Wednesday night deadline, all preferred bidders had paid up, except the Enugu Distribution Company, while the preferred bidder for Sapele Power Station had made substantial part-payment.”
He spoke in a statement by his media assistant Kandel Daniel.
The statement said: “The completion payment now entitles the preferred bidders to take full possession of the 15 PHCN unbundled entities (10 Distribution companies and five Generation companies),” the statement said.
No comments:
Post a Comment