The Nigerian Electricity Regulatory Commission (NERC), has explained the application and purpose of the proposed Business Continuity Regulation (BCR), Nigeria Electricity Hub reports.
In a couple of tweets through its official handle on Tuesday, the commission said the regulation was proposed after stakeholders reviewed the consultation on the draft of BCR for the Nigerian Electricity Supply Industry (NESI).
NERC said the BCR is to ensure continuous delivery of critical electricity generation, transmission and distribution services of the NESI, adding that it will also ensure that the power sector value chain is sustained through the performance of critical obligations of market participants.
Another point raised was that the regulation would monitor the operational and financial health of licensees to ensure stability in the NESI, and prevent financial market instability. In line with efficiency, the BRC will also create, promote and preserve an efficient and adequately regulated NESI, according to the commission.
Source: Energy Mix Report