PHCN sale: BPE, NERC discuss business plans of core investors

Acting-Director-General-BPE-Mr-Benjamin-Dikki10 September 2013, Abuja – The Nigerian Electricity Regulatory Commission, NERC, has met with a team from the Bureau of Public Enterprises, BPE, to, among other things, discuss the business plans of core investors of privatised power firms.

It was called to establish modalities for a seamless handover of the privatised electricity companies’

According to a statement by the NERC Assistant General Manager, Media, Maryam Yaya Abubakar, yesterday, he said the issues tabled at the meeting included the application of the Fit and Proper Guidelines, business plans of the core investors, framework for monitoring and enforcement of transaction agreements, and the formalisation of contracts pertaining to transmission, power purchase agreements, vetting contracts and gas supply agreements.”

He said the BPE Director -General, expressed his satisfaction at the level of responsiveness displayed by NERC when ever issues were raised in the past, adding that the BPE had enjoyed a good working relationship with NERC.

Chairman, NERC, Dr. Sam Amadi, while congratulating Dikki on his confirmation as Director-General of the BPE, stressed the importance of preparing grounds for a successful takeover. He maintained that NERC will on its own part heighten its already laid down procedures for monitoring and enforcement.

He the priority of the Commission remains customer metering, without which the industry cannot stand, adding that owners of the new distribution companies will be required to adopt the existing metering scheme put in place by the Commission or provide a better alternative.

A further meeting has been scheduled for next week to review the fit and proper guidelines as well as to arrive at the mechanism for dealing with liabilities incurred, post-handover

– The Nation

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