Participants and key stakeholders in the power sector, worried about the dwindling fortune in the sector at the weekend put aside the differences and pointed the way forward.
They want the Bureau for Public Enterprises (BPE) to firmly enforce the performance agreements entered with the private sector owners of the nation’s power sector operators.
They also want BPE to conduct a post-privatisation monitoring by engaging properly equipped personnel who can hold their own in the midst of private sector boardroom experts.
They took the decisions at the end of a special meeting of market participants and key stakeholders in the power sector.
The market operators organised the meeting, which attracted generation companies, distribution companies, the Transmission Company of Nigeria (TCN), Nigerian Bulk Electricity Trader (NBET) and Association of Power Generation Companies (APGC).
In a communique issued yesterday, the operators called on the Nigerian Electricity Regulatory Commission (NERC) to urgently implement a mechanism for rewarding performance and punishing indiscipline.
They also charged the NERC to come up with a mechanism for improving market remittance and liquidity.
The communique reads in part, “The market operators and the Nigerian Bulk Electricity Trader (NBET) should work together in collaboration with NERC to ensure their roles are complementary and aligned to the rule at this stage of the market. The Market Operators (MO), NBET, NERC and BPE should collaborate and ensure implementation of necessary supportive commercial arrangements to ensure market liquidity.
It added, “Based on the current state of the Electricity Market, the Regulator is to ensure credible tariff assumptions and respected methodology that ensure appropriate risk allocation to market participants and the government.”
The communiqué which was signed by Sola Adeyegbe (Ibadan disco), John Kadiri (Shell Power Plc), Kabiru M. Adamu (TCN) and Dotun Ajayi Omotosho (Electric Power Plc), charged the regulators to grow capacity to acquire own data independently to facilitate information-based decision-making for the management of the industry.
It added, “There should be behavioural consistency by the regulator, service providers and government in the treatment of concerns, issues, challenges and complaints of the market which should be on the basis of ruling industry documents.
“It is important to appoint NERC commissioners who are experienced, knowledgeable and contextually aware of the issues in the industry. The Federal Government should ensure multi-year budgeting for funding of transmission network critical projects.