Power generation companies have expressed concern over the adverse effects of frequent electricity grid collapses in the country, warning that the issue poses a significant threat to the power supply industry. So far this year, the national power grid, managed by the Transmission Company of Nigeria (TCN), has collapsed a dozen times, leaving businesses and operators grappling with significant losses.
Speaking at a training workshop organized by the Association of Power Generation Companies (APGC), the association’s Chief Executive, Joy Ogaji, highlighted the significant mechanical and commercial impacts of grid collapses on generation companies (GenCos).
Although the full industry-wide impact on GenCos is yet to be quantified, Ogaji revealed that the Kainji and Jebba hydro plants alone have incurred losses of N21.87 billion due to system instability this year.
She said: “Given the frequency of grid collapses in the country and the impact of it on our business we have thought it wise to provide clarification on how it affects our businesses.
