“We have seen the draft regulation and there is quite a bit of it that we are not happy with. We have recently provided feedback to the regulator and I believe that there is a consultation forum coming up soon. We will continue to strongly convey our concerns to the regulator.”
“Government will not stand in the way of such an agreement. It is consistent with the intent of privatisation envisioned by the Electric Power Sector Reform Act or at least it does not violate the Act.”
Although, the Central Bank of Nigeria (CBN) provided a N701 billion facility, to assist NBET in meeting its payment obligations from the generation invoices to ease the liquidity challenges, the Gencos are yet to get full payment of all the outstanding debts.
Also, the peak was 3,948 MW lower than 3,960MW generated on June 16. This was attributed to the loss of Distribution Companies (Discos) feeders arising from heavy rainfall leading to frequency management reduction in generation output across the grid.
“It is important that we state that there is no more interested party in the comprehensive metering of our electricity consumers than the Discos. It is our hope and expectation that such metering will be achieved sooner rather than later.”
Following the expiration of the deadline, NERC further directed that MD customer that was not metered by March 1, shall not pay any electricity bill presented by a distribution company on the basis of estimated billing methodology.
Obiaya also said the Discos now consider the CBN intervention fund as a curse because it has not done for them what they expected.
