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The Nigerian Electricity Regulatory Commission (NERC) yesterday revealed that some Generation Companies (Gencos) have commenced the renegotiation of contracted capacity with the Nigerian Bulk Electricity Trading Company (NBET) in order to free up energy for eligible customers.
NERC’s Vice Chairman, Musiliu Oseni, who made this disclosure in a press briefing in Abuja, insisted that nothing had gone wrong with the implementation of the eligible customers regulation implementation.
He stressed that it is still on course.
According to him, there are a few eligible customers because of the handful ones that have been able to complete their submission and review of the necessary documentation.
The Vice-Chairman added that some of the customers that are yet to secure approval have challenges that include data or the inability of their potential generator to sell additional capacity to them under that framework.
He explained that this is because many of the generators in the country already have contracts with the Nigerian Bulk Electricity Trading (NBET), stressing that GenCos cannot contract the same capacity twice.
On the renegotiation between GenCos and NBET, he said: “But of course, some of them (GenCos) are also making a move to renegotiate the contracted capacity already made with NBET in order to free up some capacity to sell to eligible customers.
“So nothing wrong is happening to the regulations in place. This framework is ongoing.”
Earlier, the NERC chairman, Engr. Sanusi Garba debunked media reports on tariff hikes.
He insisted that there was no new tariff review other than the ones that had been reported.
But he admitted that the Extraordinary 2022 Multi-Year Tariff Order (MYTO) took effect in February 2022 and was only released on the commission’s website Thursday when the media feasted on it.
According to him, the DisCos had already made public the same tariff.
The reporters, however, stood their ground that inasmuch as NERC posted it on its website for the first time on Thursday, it was news at that time.