DISCOs Halt Investment in Electricity Assets

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Godknows Igali

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ELECTRICITY distribution companies in the country are finding it increasingly difficult to meet their operational payment obligations to the federal government. According to the DISCOs, the development has led to a halt in investments in electricity distribution assets.

Speaking on behalf of the firms during a meeting with the federal government in Abuja, on Tuesday, July 14, Ernest Orji, a representative of Eko Electricity Distribution Company, urged the current administration to assist the firms in closing the gaps that were not envisaged when they were acquiring the power assets.

Orji stated that “large investment in distribution network was still a mirage as the goal post keeps moving. It is scary, as many of us cannot meet payment obligations to the market operator.”

Responding, Godknows Igali, permanent secretary, federal ministry of power, stated that the new peak power generation was 4,545 megawatts, adding that the feat was made possible because security agencies were able to reduce the menace of vandalism of pipelines carrying gas to the various thermal plants.

— Jul 27, 2015 @ 01:00 GMT

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