By Udeme Akpan
THE Nigerian Electricity Regulatory Commission, NERC, has determined to tackle market liquidity, funding of the revenue gap and accumulated tariff deficits in this year.
In its communiqué obtained by Vanguard, the commission stated: “The Commission presented a heads up on its regulatory initiatives planned for implementation in the year 2019 with a primary focus on improving market liquidity, funding of the revenue gap and accumulated tariff deficits in the books of the electricity Distribution Companies.
“The Commission reiterated the urgency to close metering gap and highlighted the strategies put in place for accelerated metering of end-use customers under the Meter Asset Provider Regulations.
“Other key initiatives planned for 2019 include the completion of the ongoing enumeration of customers, promotion of embedded generation and creation of new investment opportunities through distribution franchising.”
It also stated: “It also reiterated its strict approach to safety, compliance monitoring and customer service issues. Following the extensive deliberation on the state of the electricity industry, the following actions were agreed:The meeting considered the status of Ajaokuta Steel Company Limited in the electricity market and noted that the company currently has a Power Purchase Agreement with the Nigerian Bulk Electricity Trading Plc and a net billing arrangement for energy export from its Captive Power Plant.”
“(ii) An update on the Eligible Customer transactions involving the Transmission Company of Nigeria Plc, Mainstream Energy Ltd.
(iii) NERC will convene a one-day Stakeholder Meeting in the first quarter of 2019 for rulemaking consultations for Competition Transition Charge and stakeholder engagement on the provisions of the Eligible Customer Regulation. (iv) The March 31, 2019 deadline for the completion of the enumeration of customers by Distribution Companies was reaffirmed by the Commission.