Browsing: Transitional electricity market

Fashola, who was visibly angry with the recent statements of the Discos, declared that the power firms had failed in many aspects and bluntly stated that complaints of obsolete infrastructure in the sector as alleged by the companies were unnecessary because they were aware of the state of these facilities when they purchased the assets.

He noted that the Discos have irrespective of their excuses, failed to also tell Nigerians that they have mostly refused to submit their annual statement of accounts to the NERC as required by the reform law, as well as frustrated attempts by NERC to activate their pacts in the Transitional Electricity Market (TEM) which should bind them to objective service delivery.