The contract renewal of Manitoba Hydro International, and the Transmission Company of Nigeria (TCN) are very slim, as the contract is set to expire in a week’s time, reports.
A reliable source from the presidency said that there are possibilities that the transmission company might be returned to government management the way it was before its handover to Manitoba in 2012, thereby ignoring recommendations made by the Bureau of Public Enterprises (BPE) in the process.
However, up to $300 million proposed investment arrangement for the transmission network from the World Bank could be in jeopardy because the Bank had expressed reservations about releasing the funds if the TCN hands it over to government control.
Another industry reliable source said that a proposal made by China State Grid to invest, operate and transfer the transmission network was also overlooked by the government, which the source said was working towards the takeover of TCN from Manitoba and running it, despite the government’s abysmal track record in the management of the grid prior to the management contract.
Already, there have been a series of petitions against Manitoba over the situation in TCN, which is considered to be the weakest link in the power supply value chain.