NERC Reads Riot Act to DisCos on Audited Account’s Racket

Nigerian-Electricity-Regulatory-Commission-NERC (1)

The Nigerian Electricity Regulatory Commission (NERC) has read the riot act to distribution companies in Nigeria over racket in submission of their financial statements.

The commission, which had earlier sanctioned the Port Harcourt Electricity Distribution Company over the audited account submission delay, declared at the monthly power sector stakeholders meeting in Sokoto, that Benin, Kano and Enugu DISCos would be sanctioned for not complying with sector directives regarding submission of audited accounts.

In a communique issued at the end of the meeting presided over by the minister in charge of power, Babatunde Fashola, NERC consequently directed that DisCos would be required to submit financial statements of their companies in accordance with the provision of their licenses.

“NDPHC announced the completion of Alaoji to Ikot Ekpene 330kv DC line, as well as Calabar to Ikot Ekpene 330kv DC line, following the resolution of community issues in Itu and Oronta. Following the quality assessment by NEMSA, this line will be energized.

“Ikot Ekpene switching station is expected to be commissioned at the end of October. These transmission projects are critical to improvements in grid reliability in the country,” the communique read.

NNPC, the communique showed, informed the meeting of a promising outlook on gas by the end of the third quarter of 2016.

The strategy for gas supply improvement involve restoring previous supply level by completing repairs of ELPS 24” pipeline by mid-November 2016, and incremental supply through new supply additions from the following projects: NPDC Oredo 2, Utorogu NAG2, Odidi, Giga gas and TEPNG.

The communique issued at the end of the 9th monthly meeting of the Honourable Minister of Power, Works and Housing with operators of the Power Sector, held at Sokoto Independent Power Project, Gidan Salanke Road, Sokoto State, showed that the meeting focused on identifying, discussing and finding practical solutions to critical issues facing the Nigerian Electricity Supply Industry.

“The operators were fully represented at the highest executive management levels, including Managing Directors and CEOs of Generating Companies (GenCos), Distribution Companies (DisCos), and the Transmission Company of Nigeria (TCN), as well as various government agencies such as the Niger Delta Power Holding Company (NDPHC), the Nigerian Bulk Electricity Trader (NBET), the Nigerian Electricity Regulatory Commission (NERC), Nigerian Electricity Liability Management Company (NELMCO) and Nigerian Electricity Management Services Agency (NEMSA) responsible for the regulation and development of the electricity industry.”

Source: Today

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