The epileptic power supply in the country has been attributed to the inability of the Electricity Trading PLC to settle over N2 trillion owed to power generation companies .
He explained that GenCos are technically subsiding electricity supply in the country which is impacting negatively on power supply to homes and industries. Elumelu observed that only a partial privatisation of the power sector has been achieved since the privatisation exercise commenced in 2012. For the energy sector to run efficiently, he urged, the federal government should come out with a clear timeline for the full privatisation of the power sector, starting with the DisCos and TCN.
Despite the challenges, Transcorp gross earnings for the year grew by 47 per cent from N134 billion reported in 2022 to N197 billion, while profit before tax increased by 94 per cent from N30 billion in 2022 to N59 billion. The epileptic power supply in the country has been attributed to the inability of the Electricity Trading PLC to settle over N2 trillion owed to power generation companies .