The Nigerian Electricity Regulatory Commission has revealed that Discos who breach certain contractual obligations to regulators and customers would face additional penalties.
This will impact seven issues that would be used to evaluate each DisCo’s performance, according to an Order on Performance Monitoring Framework for All DisCos.
The new order sought to hold the top management of each DisCo accountable for their compliance with reporting requirements and implementation of commission directives in line with the utility’s terms and conditions.
It was signed by NERC Chairman Sanusi Garbo and Commissioner Legal, Licensing & Compliance, Dafe C. Akpeneye.
The directive stated that a rectification directive would be issued if up to 95% of the eligible nominations were not off-taken in a given month.
Nonetheless, a DisCo’s guaranteed administrative profit (OpEx) will be lowered by 5% for the following quarter if it is unable to off-take up to 95% of eligible nominations in two of the three months of that quarter.
Additionally, Daily Trust reported that in the event that a customer is overcharged, the DisCo will withhold 10% of the total over-billing amount for the period from its yearly administrative profit-sharing allotment during the subsequent tariff review. Overbilled consumers will also receive credit adjustments.
TimesNow.com.ng reported that President Bola Tinubu has expressed disappointment in Nigeria’s electricity generation, stating that 4.5 gigawatts is insufficient for a country of its size.
Tinubu made this statement during the inauguration of the Presidential Economic Coordination Council in Abuja, emphasizing the need for innovative solutions to the country’s economic challenges.
He highlighted the importance of public-private partnerships in driving economic reforms, particularly in the energy sector.
Source: TimesNow.com.ng
