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Eko DISCO, Afam default on NERC fines

By Prince Okafor

TWENTY days after ordering Eko Electricity Distribution and Afam Power Plant to pay fines of N48 million and N18. 51 million respectively for some power sector infractions, the companies are yet to comply with the Nigerian Electricity Regulatory Commission, NERC, order.

The fine was imposed on Eko DISCO for violation of its licensing terms and other operating conditions over its late submission of 2013 and non-submission of 2014 audited financial reports.

For Afam, the sanction was as a result of its breach of its licensing terms and other operating conditions when it failed to file audited financial report for 2014 both summing up N66 million.

At present, the fines imposed on both firms have attracted an additional N66.6 million, being the cumulative for five per cent interest daily for 20 days following the expiration of the two weeks grace granted by NERC, which expired on the December 22, 20I6.

Meanwhile, NERC, said it would sanction distribution companies (DISCOs) that failed to meter electricity customers in their networks after February 28, 2017.

 

 

 

 

 

 

 

 

 

 

 

 

 

 


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