Gencos petition NERC, presidency over new administrative charge

October 1, 2019
83 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

How 127 Ivory Coast returnees escalated Coronavirus in Osun
News
News

How 127 Ivory Coast returnees escalated Coronavirus in Osun

Webby - April 1, 2020

<!-- Governor Oyetola of Osun State --> Governor Oyetola of Osun State By Kazeem Ugbodaga The Coronavirus cases in Osun…

Coronavirus: 300 Muslim worshippers attack Lagos Taskforce
News
News

Coronavirus: 300 Muslim worshippers attack Lagos Taskforce

Webby - April 1, 2020

<!-- The worshippers who attacked government officials --> The worshippers who attacked government officials The Lagos State COVID-19 Taskforce, mandated…

Nigeria’s Coronavirus donations hit N15bn
News
News

Nigeria’s Coronavirus donations hit N15bn

Webby - April 1, 2020

<!-- Godwin Emefiele, Governor, Central Bank of Nigeria (CBN) --> Godwin Emefiele, Governor, Central Bank of Nigeria (CBN) The Central…

Leave a Comment

Your email address will not be published.