By Etuka Sunday
The Nigerian Electricity Regulatory Commission (NERC) on Monday inaugurated dispute resolution counsellors that would adjudicate disputes amongst participants in the electricity market.
Speaking, the Chairman, NERC, Dr. Sam Amadi said the members of the panel are men of proven integrity who were ready to shoulder the trust of the electricity market.
Amadi noted that, by the inauguaration, the commission has met the last condition precedent for the commencement of the Transitional Electricity Market (TEM) as prescribed by the market rules.
He said, “Now that we have completed the last of the formal conditions precedent and we are effectively handling the informal conditions precedent, NERC is poised to recommend to the Minister of Power to
declare the commencement of the TEM at a named date.” Some of the conditions, which are expected to be met during the interim period between the completion of the privatisation process and
the start of the TEM include the execution of the market participation agreement, market operations system regulations, market settlement system, and the procedures for registration and admission processes for market participants.
The Federal Government had on March 17, 2014 announced the indefinite suspension of the implementation of the TEM, saying that it was not concerned about the declaration of the TEM but was bothered about putting the right market conditions in place for the sector to thrive. According to him, the new owners of the distribution companies needed to be sure of their ability to recoup their investment, especially through revenue collection.
Amadi, while inaugurating the DRP on Monday, pointed out some informal conditions precedent that were not listed in the market rules, but were necessary for the optimal working of the market.
He said, “For this stage of the market, certain formal and informal conditions precedent need to be met. The formal conditions precedents include the approval of grid codes and market rules, the establishment
of an independent regulator, the establishment of market operation and system operation with functional capabilities, and the establishment of a market dispute resolution mechanism.”
The members included: Adeyemi Akinsanya, Sadiku Folorunsho, Boma Ozobia, Ejekan Nnenna, Ezekiel Osarieme, Adeyemi Oyedele, Hussaini Muhamed, Augustine Mamamdu, Okechukwu Joseph Chiazor, Tamuno George, Nnenna Ahukannah, Olufumilayo Roberts.