Nebo reads riot act to electricity market operators on adhering to rules
The Minister of Power, Prof. Chinedu Nebo has warned electricity market operators on the need to adhere to the interim market rules for better efficiency in the electricity distribution process.
Nebo gave the warning on Wednesday in Abuja at a sensitisation workshop on the implementation of the interim market rules.
“The government, understanding the complexity of the sector reform, has made provision for the establishment of rules and regulations to govern the Market.
“The strict adherence of the laid out rules and regulations by the operators and participants of the Market, has informed the need for this workshop,'' he said.
He said the proper implementation of the market rules will go a long way in the efficient running of the market in a manner that is more transparent, efficient and adequate to all stakeholders in the market.
He stressed the need for market operators to be properly registered and ensure that the payment schedules are strictly followed according to the interim rules.
He expressed optimism that the workshop will provide stakeholders with the opportunity to understand the processes of the interim market particularly with regards to compliance with market calendar.
Earlier, the Chairman, Nigerian Electricity Regulatory Commission (NERC), Dr Sam Amadi in his remarks said the interim market rules were meant to guide the operational efficiency of the operators.
He stressed the need for the market operators to properly register their companies with the relevant bodies and ensure remittances for the gas and electricity supplied to them.
Also, Mr Jan Bagnall, the Executive Director (Market Operations), Transmission Company of Nigeria (TCN), said the registration of the market participants will ensure smooth operations between it and the distribution companies.
“The proper registration of the operators will enable us know who to contact, where to contact them, and what their bank account are so we can credit or debit the proper amount for participating in the market,'' he said.
He said so far only about 40 percent of the market operators had properly registered their companies with the TCN.