BY ABAH ADAH, Abuja
The Niger Delta Power Holding Company (NDPHC) says it is being paid 30 per cent of its invoice, including gas cost, for electricity generated and put on the national grid apart from the stranded power.
Managing Director/Chief Executive Officer (MD/CEO), NDPHC, Mr Chiedu Ugbo disclosed this in an interview at the headquarters of the company in Abuja noted that debt owed the company by distribution firms stands at about N160 billion at the moment.
NDPHC is a government-funded private liability company with a mandate to manage the power projects tagged “National Integrated Power Project (NIPP), and associated gas infrastructure among others.
The NDPHC boss explained that only about 30 per cent of the power supplied to the national electricity grid by the NDPHC was being paid for by the sector.
He noted that if not for the intervention of the Federal Government through its payment assurance facility, it would have been practically impossible for power generation companies to produce electricity.
Ugbo said, “On the level of indebtedness, I don’t evacuate all that I generate but only get to evacuate about 20 per cent based on the constraints in the sector and out of this we don’t get 70 per cent of the payment. We only get about 30 per cent.
“As at the last time, 31st May, whenI checked, we were owed N190bn, although some payments have come from the payment assurance. So it should be somewhere around N160bn now.”
“And this is for electricity generated, sold to the grid, consumed but not paid for.”
The NDPHC boss further stated that his firm had started supplying power directly to eligible customers (i.e. customers who subscribe directly to the generation companies), as a means of shoring up its revenue in order to be able to run the company.
Ugbo however said he was hopeful that the Siemens Presidential Power Initiative (PPI), approved by President Muhammadu Buhari, would fix the transmission and distribution constraints allowing for generated energy to be supplied to consumers.