NERC Urges Electricity Firms to Comply With Privatisation Agreements

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The Nigerian Electricity Regulatory Commission has told electricity companies carved out of the defunct Power Holding Company of Nigeria to comply with the agreements they made with the Bureau of Public Enterprises or be sanctioned.
Mrs. Olufunke Dinneh, the General Manager, Legal, Licensing and Enforcement, NERC, told the companies at the end of a training session for performance managers of operating companies in the Nigerian electricity supply industry.
According to a statement made available in Abuja on Thursday by the Head, Public Affairs Department, NERC, Dr. Usman Arabi. Dinneh said the performance managers have the responsibility of also ensuring that the companies complied with industry regulations.
In her words, “You should no longer count yourselves among Nigerians who are lamenting the challenges in the power sector but you should brace to fix the sector.”
She said the importance of complying with the privatisation agreements and regulatory directives is the reason why NERC insists that the electricity companies must have performance managers.
Dinneh said, “There should be effective monitoring of performance agreements and Key Performance Indicators. The commission, working with the BPE as well as other stakeholders and Nigerians, want explanation on compliance with the agreements and the KPIs signed by the private investors, and those of you at this training have a role to play in this.
“The regulator has the responsibility to ensure accountability within the electricity supply value chain. That is why the commission created standards and codes, and you are employed to ensure that your respective companies abide by those standards within the regulatory landscape in addition to the performance agreements signed by your management when they took over the erstwhile public utilities.”
She told the participants at the training that their failure to assist their respective management to play by the rules would attract the regulator’s sanctions, adding that companies in the power sector, irrespective of the ownership structure, must play by the rules.


Punch 

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