Gencos petition NERC, presidency over new administrative charge

October 1, 2019
306 Views
https://nationaldailyng.com/wp-content/uploads/2019/03/966-Babe-320x100.gif

By Segun Odunewu

Power generation companies (Gencos) have petitioned Nigerian Electricity Regulatory Commission (NERC), the Presidency and other relevant agencies of government over a recent administrative charge imposed on them.

In a letter dated September 30, 2019, addressed to the chairman of the NERC and copied to the Office of the Vice President, Office of the Chief of Staff and Minister of Power, Gencos kicked against the 0.75 per cent administrative charge imposed on them by the Nigerian Bulk Electricity Trading company.

Copies of the letter was equally sent to the offices of the Minister of State for Power; Minister of Finance; Permanent Secretary, Ministry of Power; director-general, Bureau of Public Enterprises; managing director, Gas Aggregation Company of Nigeria; and NBET’s managing director.

The power generating companies in the letter contended that the charge was not backed by any market rule.

It therefore called on NERC to call NBET to order.

“Gencos believe that one of the primary responsibilities of the regulator in a newly privatised market should be to prevent market participants’ behaviour that could disrupt the market and significantly degrade market efficiency and system reliability.

“Gencos are also of the view that processes entrenched in the Electric Power Sector Reform Act, Market Rule and other applicable codes must be followed in dealing with issues at all times.

“Arbitrariness, duress or undue influence should not be allowed in a nascent market as ours,” the letter read in part.

PV: 0

You may be interested

Premier League: Chelsea Overcome Leicester City Away
Sports
Sports

Premier League: Chelsea Overcome Leicester City Away

Webby - November 23, 2024

Chelsea defeated Leicester City 2-1 in their Premier League clash at the King Power Stadium on Saturday.Nicolas Jackson gave Chelsea…

Sports
4 views

CAFCC: Olanrewaju Explains Enyimba’s Switch To Uyo Grass Pitch Ahead Al-Masry Clash

Webby - November 23, 2024

Yemi Olanrewaju, Head Coach of Enyimba, has explained to Completesports.com the rationale behind the team’s relocation to the Godswill Akpabio…

Boniface Can Still Play This Year — Leverkusen Boss Alonso
Sports
1 views
Sports
1 views

Boniface Can Still Play This Year — Leverkusen Boss Alonso

Webby - November 23, 2024

Bayer Leverkusen manager Xabi Alonso remains optimistic Victor Boniface will return to action for the club before the end of…

Leave a Comment

Your email address will not be published.