Power Generation Companies (GENCOs) have instituted a legal action against the Federal government for alleged discriminatory treatment of the companies and their gas suppliers with intent to harm their business interests.
The GENCOs also accused the government of giving preferential treatment to Azura Power West Africa Limited and Accugas Limited to the detriment of the Nigerian Electricity Supply Industry and the power sector as a whole.
The suit filed at the Federal High Court, Abuja, has the GENCOs represented by Mainstream Energy Solutions Limited (“Mainstream”), Transcorp Power Limited (“Transcorp Power”), Egbin Power Plc (“Egbin”) and Northsouth Power Company Limited (“Northsouth”) as the plaintiffs in the suit.
The defendants are the Federal Government of Nigeria (1st defendant), Central Bank of Nigeria (2nd defendant), Minister of Power, Works & Housing (3rd defendant), Nigeria Bulk Electricity Trading Plc, NBET, (4th defendant), Azura Power West Africa Limited (5th defendant) and Accugas Limited (6th defendant).
According to the suit, the GENCOs are contending that the Federal government and its agencies have treated and intends to continue treating the GENCOs, their investors and suppliers unfairly and in a discriminatory manner.
Justice Binta Nyako of the Federal High Court, Abuja, has fixed April 16 for hearing of the GENCOs’ application for interim injunction.