An Electricity Market Operator has called on distribution companies (DISCOs) to improve on their monthly remittances to the market, to effectively service other operators in the electricity value chain.
The Operator, Moshood Saleema, said at a Stakeholders Workshop in Abuja, that current payment remittances from the DISCOs stood at 30 per cent of invoice.
He described this as not good for the power industry, which all other sectors of the economy depended on.
“For the past one year, the Nigerian Electricity Industry has been hit by critical liquidity crisis with the generating companies crying out and considering shutting down their turbines if the situation does not improve.
“They said it was increasingly becoming difficult to service their obligations especially to gas suppliers,’’ he said.
Saleeman urged operators in the market to reinforce their commitments to the market and enforce discipline and compliance for the good of the sector.
He threatened to invoke the Security Deposits and stop the accounts of defiant participants.
The Managing Director, Tranmission Compamy of Nigeria (TCN), Atiku Abubakar, said the poor market return to TCN had affected the timely completion of critical projects to upgrade its wheeling capacity.
Abubakar, who was represented by Tom Uwah, announced that plans have been put in place to complete and commission projects aimed at achieving 6,000MW wheeling capacity by the end of 2016.
The Managing Director, Independent System Operation, Musa Gumel, called on participants not to rush to courts when disputes arose.
He advised that alternative resolution platforms created for the industry should be exhausted before going to court.
Two presentations were made at the workshop on “Billing and Settlement Issues’’ and “Market Discipline’’. (NAN)
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