NERC engages investors, owners of DisCos on electricity market improvement

The Nigerian Electricity Regulatory Commission has engaged Investors and Owners of Distribution Companies in the Nigerian Electricity Supply Industry on a high-level discussion towards improving the electricity market.

At the meeting which held in Lagos, Sanusi Garba, NERC Chairman, has charged Investors/Owners of DisCos in the Nigerian Electricity Supply Industry to come up with solutions rather than excuses. While assuring them of the Commission’s support, he urged them to come up with transformational ideas and suggestions on possible regulatory interventions to facilitate rapid positive changes in the sector. On his part, Yusuf Ali, NERC Commissioner, Planning, Research and Strategy added that NERC intends to create a regulatory environment that instills investor confidence.

Discussions centred around the transition to bilateral trading, the Multi-Tier Regulatory Framework, and updates on the DISREP fund to reduce ATC&C losses on the DisCo networks. The quarterly meeting brings together NESI participants to provide performance updates, review challenges, and share ideas to help strengthen the industry and prepare the market for the competitive phase.

The meeting provides a platform for market participants to update the NERC on their activities and challenges while also providing an avenue to discuss solutions to improve the performance of the NESI.