By Prince Okafor

Management of Enugu Electricity Distribution Company, EEDC, yesterday, described the recent publication by the Transmission Company of Nigeria, TCN, announcing its suspension from Market Operator Administered Markets as a premeditated act calculated to embarrass the company.

This is coming against the backdrop of last Tuesday’s statement by the TCN on suspending the company over non-compliance with the condition of market rules and market participation agreements.

The order, dated June 24, and signed by Engr. E. A. Eje said the suspension was based on Markets Rules 45.3.9, 45.3.12 and 45.3.13.

It stated that EEDC was suspended from Market Operator Administered Markets.

It read: “The restriction of Enugu Electricity Distribution Company intake from the grid through a disconnection order to the transmission service provider to disconnect some facilities of Enugu Electricity Distribution Company until the event of default stated in NIISO/2019/002 is remedied.”

However, EEDC, in a letter by its Deputy MD, Mr Paul Okeke and addressed to the Executive Director, Market Operator, TCN, entitled Re: Advisory on level of security Cover to Post,’ called on TCN to retract the publication as arrangements are already on ground to settle the Market Operator.

He said: “EEDC wishes to state that the publication is a premeditated act of utmost bad faith, calculated to embarrass EEDC and same has indeed embarrassed us in the eyes of esteemed customers as EEDC has been inundated with enquiries as to the status of EEDC as a licensee.

“Again, this act by MO is a breach of EEDC’s right to fair hearing as enshrined in Section 36 of the Constitution of the Federal Republic of Nigeria, 1999.

“Consequently, we urge you to vacate and retract the said publication as EEDC is making all arrangements to procure and deliver to MO the Security Cover.”

The letter reads: “Your letter with Ref. No. MO/003/017/004/2019 dated 26th June 2019 but received after closing of business via email the same date, it refers.

“For purposes of setting the record straight, it is important to reiterate the background act and/or sequence of events before now. Your office informed EEDC that our Security Cover posted as a market participant has expired and requested that same be placed within two weeks.

“EEDC immediately commenced the process with our bankers, First Bank of Nigeria Limited. When we realized that the Security Cover cannot be procured and delivered to MO within two weeks period, we wrote back to MO requesting for an extension to on or before the end of June 2019.

“Surprisingly, your office issued simultaneously a Notice of Default and another letter informing EEDC that it has been sanctioned for N7,500,000.00 under Level 4 of the offender of the Market Rules 2014. A third letter was sent informing EEDC of our right request for hearing on this matter under the same Market Rules.

“At the meeting/hearing on 13th June 2019, EEDC among other things informed the meeting/Panel of the efforts being made to procure the requisite Security Cover and promised that it will be made available on or before the end of June 2019. Therefore parties parted with the understanding that the Security Cover will be made available by EEDC on or before the end of June 2019.

“Barely Four days to the time agreed by parties for the Security Cover to be delivered, MO without recourse to EEDC went ahead to cause a publication to be placed on their behalf on the aforementioned newspaper announcing a suspension of EEDC as a market participant.”