By Jim Jones
Electricity generation companies (GenCos) under the Association of Power Generation Companies have disclosed that they are owed more than N6 trillion in unpaid invoices, highlighting the financial challenges facing the sector.
The companies noted that they remain the most exposed participants in the electricity value chain, despite being entitled to about 60 per cent of market receivables from invoiced energy bills.
They dismissed allegations of extortion and fraud levelled against them by the Nigerian Labour Congress, describing such claims as misleading and damaging to the image of the sector.
APGC Chief Executive Officer, Dr. Joy Ogaji, emphasised that government support for the sector is intended to sustain liquidity and ensure uninterrupted electricity generation, not for political purposes.
She urged stakeholders to focus on addressing genuine gaps, including theft and systemic challenges, rather than unfairly blaming GenCos.
