N105b debt cripples NDPHC

N105b debt cripples NDPHC

The Managing Director, Niger Delta Power Holding Company (NDPHC),  Chiedu Ugbo yesterday lamented that the over N105 billion debt being owed the firm is affecting its operation. He said other challenges bedeviling the firm, include low pace of work, vandalism of projects and the failure of the distribution companies (DisCos) to provide Distribution Substation Operators (DSOs).

“Like every other organisation, we in NDPHC are experiencing the pains of liquidity challenges in the sector with  market debt profile owed our company at over N105billion as at last invoice. Others challenges include slow pace of work by some contractors resulting in re-assigment of some projects, security situation  in some parts of the country, vandalism of completed projects and lines, failure of DisCos to provide DSOs to man completed substations as well as their failure to take some completed injection substation,” he said.

He lamented the reluctance of DisCos to service customers from Completely Self Protected (CSP) transformers leading to failure to utilise already handed-over high voltage distribution system. Ugbo who spoke during the workshop of the Power Sector Communications Team in Abuja, announced that the sector would in the second week of November commence the evacuation of 2,000 megawatts (Mw) of electricity from the Ikot-Ekpene Switching Station, adding that this will allow evacuation  of over 2,000Mw of electricity  from Calabar, Alaoji, Afam power stations in the Eastern plank. Read more

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