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Liquidity and poor gas supply major challenges for the Gencos – Elumelu

While at the 13th meeting of power sector stakeholders with the Minister of Power, Babatunde Fashola, hosted by Transcorp Power Limited, Ughelli, Delta State, the Chairman of Transcorp Power, Mr. Tony Elumelu said that liquidity and gas were the the major issues plaguing Nigeria’s generating companies (GenCos), The Guardian reports.

He said to the minister: “We have two issues: one is liquidity. We want the minister to fast-track access to the Liquidation Assurance Programme funds. The second is gas. We want to do, but there is no gas. We can generate 620WM but due to poor access to gas supply we are handicapped.”

The power sector operators present included the NERC, managing directors and CEOs of GENCos, DISCos, the Transmission Company of Nigeria (TCN), as well as various government agencies such as the Niger Delta Power Holding Company (NDPHC), the Nigerian Bulk Electricity Trader (NBET), Nigerian Electricity Liability Management Company (NELMCO) and Nigerian Electricity Management Services Agency (NEMSA) and other operators in the electricity industry.

The post Liquidity and poor gas Supply Major Challenges for the Gencos – Elumelu appeared first on Energy News | Oil and Gas News - Energy Mix Report.

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Liquidity and poor gas supply major challenges for the Gencos – Elumelu


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