A power struggle over power has ended up in the court.
Strange as it seems, the power play is between Kumul Consolidated Holdings Limited owned PNG Power Limited and Kumul Petroleum Holdings Limited owned NiuPower Limited, over outstanding power usage payments owed to NiuPower Ltd as per a Power Purchase Agreement signed in 2019.
Last November, NiuPower, which is jointly owned by KPHL and Santos, issued a demand for PNG Power Ltd to pay more than K500 million it owes the gas turbine plant in Moresby for power supplied under the PPA.
According to PPL CEO Obed Batia, the company responded by paying nearly half of the outstanding payment.
Mr Batia said PNG Power Ltd (PPL) has now gone to court to stop a possible insolvency case filed agai…
Read the full article at: https://postcourier.com.pg/ppl-goes-to-court-to-stop-possible-insolvency-case/