Five power generation companies including Egbin, Transcorp, Mainstream and two others are suing the Federal Government over its decision to prioritise the settlement of its obligations to Azura IPP from the N701bn power guarantee to mitigate DisCos inability to settle their market invoices.
Sources with knowledge about the matter confirmed to BusinessDay that the suit was instituted yesterday at the Federal High Court in Abuja.
Parties joined as defenders include the Federal Ministry of Finance, Federal Ministry of Power, Works and Housing, the Nigerian Bulk Electricity Trading (NBET) PLC, Azura IPP, and Accugas.
Joy Ogaji, who represents the association of generation companies confirmed this development by phone. She also said the matter would come up today in court.
BusinessDay had reported last week that power generation companies are fretting over the decision of the Federal Government to include the Azura Edo IPP among beneficiaries of the N701billion power assurance fund announced last year.
