NERC to cancel 8 DisCos’ licences over N30bn debt

The Nigerian Electricity Regulatory Commission (NERC) recently notified eight power distribution companies (DisCos) on its intent to cancel their licences in 60 days after they accumulated N30.1 billion energy invoice debts for July 2019. The Federal Government had unbundled the Power Holding Company of Nigeria (PHCN) into 18 firms and sold them to private owners at $2.5billion (about N903.750bn) in 2013. The assets consist of six generation companies (Gencos) and 11 distribution companies (Discos).

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