By Emma Ujah, Abuja Bureau Chief
ABUJA—Mainstream Energy Solutions Ltd, operators of Kainji and Jebba Hydro Power Plants, have cried out over the N20 billion owed it by the Nigerian Bulk Electricity Trading Plc, in unpaid invoices.
Chairman of the company, Col. Sani Bello, aired the frustrations of his company and other Electricity Generation Companies, GENCOs, at the inauguration of the Mainstream Charity Foundation in Abuja, yesterday.
He said: “Mainstream Energy Solutions Ltd has faced lots of difficulties since we took over the operations of Kainji and Jebba Power Plants because we are not being promptly and adequately paid for the volume of electricity we are generating
“For us in the Generation sub-sector, our monthly invoices have never been fully paid. As we speak today, our Company has accumulated unpaid invoices of over N20 billion Naira.
“In addition to non-payment of our monthly invoices in full, our Company also has to grapple with difficulties associated with obtaining Foreign Exchange to import critical spare parts. Sustenance of generations not to talk of increasing capacity has become a daunting challenge.
“I would like to appeal to the Ministry of Power, the Bureau of Public Enterprise, BPE, Nigerian Bulk Electricity Trading, NBET, and Nigerian Electricity Regulatory Commission, NERC, to continue to do all it takes in ensuring that the debt burden borne by the Generation Companies does not cripple them.”
In his contribution, the Deputy Chairman, Alhaji Ismaila Isa, said the distribution companies were not sincere with Nigerians as they failed to meter consumers and renege in their agreements to promptly pay for electricity supplied to them by the GENCOs
His words: “As the vice chairman of this company, I can tell you that the Distribution companies are not paying up after collecting bills from consumers but nobody bothers to go to the generating companies to know whether they have been paid what they have been generating.”