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Adelabu Highlights Impact Of Unpaid Debts And Gas Shortage On Power Companies
Adelabu Highlights Impact Of Unpaid Debts And Gas Shortage On Power Companies....KINDLY READ THE FULL STORY HERE▶
During a visit to the Olorunshogo Power Plant in Papalanto, Ogun State, and the Omotosho Power Plant in Ondo State, Minister of Power, Bayo Adelabu, highlighted the challenges faced by power plants in operating at their full capacity. Managing two government power plants under the Niger Delta Power Holding Company, Adelabu expressed his concern about the underutilization of these facilities, operating at less than 25% capacity………CONTINUE READING
Adelabu attributed the suboptimal capacity utilization to a shortage of gas supply to the power plants and emphasized the need to address this issue for improved operational efficiency. During the nationwide tour of Federal Government power installations, Adelabu inspected the physical and operational state of the power plants, aiming to identify solutions to enhance their performance.
The minister underscored the impact of outstanding debts on power generation companies, particularly those related to electricity subsidies. He suggested a transition to cost-reflective tariffs to ensure the sustainability of subsidies and urged the Federal Government to fulfill subsidy promises with adequate funding. Adelabu emphasized the critical role of liquidity in the power sector, pointing out that unpaid debts hinder power generating companies from settling their dues with gas suppliers, leading to disruptions in the gas supply chain.
Addressing the issue of mounting debts, Adelabu acknowledged the role of Distribution Companies (DisCos) and the Federal Government in contributing to the financial challenges faced by power plants. He pledged ongoing efforts to enhance power availability in Nigeria, focusing on reliable energy sources to meet the nation’s growing demand.
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Source: Bushradiogist
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