The management of Mainstream Energy Solutions Limited, operators of Kainji Hydro Power Plant and Jebba Hydro Power Plant, said it has reached agreement with six companies to sell bulk electricity directly to them. The move is coming on the heels of the commencement of the eligible consumer rules by the challenge of power loss attributed the inability of the Nigerian Electricity Regulatory Commission (NERC). Managing director/ chief executive officer (MD/CEO) of the company, Engr. Lamu Audu, stated this yesterday while speaking with journalists. Speaking with the team who visited the company’s site to see the level of progress made by the new owners since it was concessioned in 2013, Audu stated that adoption of the eligible customers rule to would not only help resolve the financial challenges currently facing GenCos but would enable them attract new investors.
He described the situation where GenCos generate power but was rejected by the transmission company of Nigeria (TCN) and distribution companies (DisCos) due to lack of infrastructure as not only frustrating but huge loss to them as they were not paid for such waste. Speaking on financial losses his company has incurred due to the rejection of generated power, Audu said both Kainji and Jebba plants has lost about N6.4 billion in the last three years (January 2015 – January 2018). “We have reached agreement with six companies to supply them power directly as a result of the eligible customers rule. “This move will lead to the revival of moribund companies which were closed because of power supply. “Some of these companies have even laid their own lines to get supplies. We’re just waiting for approval from TCN, NERC and other relevant agencies as well as some finishing touches to commence the deal,” he stated.
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