LAGOS/Nigeria: Minister of Power, works and Housing has accused Peavey of concocting fictitious debt figure aimed at inciting other generation companies to “refuse to comply with grid codes and regulations made pursuant to the Electric Sector Power Reform Act of 2005 prescribing frequency levels of operation for power generating companies”. This he said when he was speaking at the 19TH monthly meeting of the power sector operators in Lagos on Monday. Fashola said Peavey made the comments despite his “admonishment” that the operators “act in a manner consistent with their leadership role”.
In an interview with Bloomberg, Dallas Peavey, Chief executive officer of Egbin Power Plant plc, had said the government owed the company N125 billion and that about 700MW of electricity was wasted because of inadequate transmission infrastructure. Fashola accused Peavey of concocting a fictitious debt figure insisting that the Transmission company of Nigeria (TCN) currently has the capacity to transmit 6500 MW. However, he did not state the exact amount owed to the power station by the Federal Government.