Govt orders Discos to submit audited financials to NERC

As part of efforts to enhance transparent monitoring of the power sector and determine the exact level of performance, the nation’s distribution companies (Discos) have been directed to submit their audited accounts covering 2013-2015 to the Nigerian Electricity Regulatory Commission (NERC).

The directive was contained in a communiqué issued yesterday by the Minister of Power, Works and Housing, Babatunde Raji Fashola, at the end of the fifth monthly meeting of industry operators.

The parley, which held in Niger State, was convened to identify, discuss and find practical solutions to issues facing the Nigerian Electricity Supply Industry.

It was attended by ministry officials, the managing directors and chief executive officers of generating companies (Gencos), Discos and the Transmission Company of Nigeria (TCN) as well as various government agencies including the Niger Delta Power Holding Company (NDPHC), Nigerian Bulk Electricity Trader (NBET), NERC and the Nigerian Electricity Management Services Agency (NEMSA).

The communiqué noted that NERC would collaborate with NEMSA, NBET and the Market Operator (TCN/MO) to implement ranking criteria in order to assess the safety and payment performance of Discos

“The Distribution Companies (Discos) reiterated their commitment to reinvigorate efforts at strengthening the Customer Complaints Units (CCUs) in order to achieve efficient customer confidence through constant public enlightenment.

“To this end, each Disco confirmed that it had announced these numbers in four major newspapers as at May 09, 2016.

“As part of efforts to eliminate estimated billing of electricity consumers, the distribution companies agreed to redouble their metering roll-out plans in a progressive and sustainable manner by raising additional funding for this purpose. To this end, distribution companies are to publicise details of their metering progress at regular intervals,” the document read in part.

The statement quoted a representative of Shell as saying that the repairs on Forcados export line were to be completed on May 29 this year.

“Repairs to this pipeline will be vital to improving the current power situation and will be closely monitored by the meeting secretariat. Shell also announced that it is supplying gas to Gbarain power plant which just started generating electricity,” Fashola observed.