Power generation crashes by 990MW, Gencos lose N1.8tn

The available generation capacity in Nigeria’s power sector dropped again in 2022, as it crashed from the 6,336.52 megawatts recorded in 2021 to 5,346.82MW last year, latest data on electricity generation trend seen in Abuja on Monday, showed.

It was also observed that the annual capacity payment loss to power generation companies had increased to N1.8tn, as data from the document further showed a decrease in the average utilised power in 2022.

Figures obtained from power generation companies indicated that while the average quantum of electricity utilised in 2021 was 4,118.98MW, it dropped to 3,940.54MW in 2022.

The document on Power Generation Trend (2013 – 2022), showed that Nigeria’s average available generation capacity fluctuated between 4,000MW and 7,700MW since the sector was privatised in 2013.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.