Power generation companies (Gencos) have petitioned Nigerian Electricity Regulatory Commission (NERC), the Presidency and other relevant agencies of government over over a recent administrative charge imposed on them.
In a letter dated September 30, 2019, addressed to the chairman of the NERC and copied to the Office of the Vice President, Office of the Chief of Staff and Minister of Power, Gencos kicked against the 0.75 per cent administrative charge imposed on them by the Nigerian Bulk Electricity Trading company.
Copies of the letter was equally sent to the offices of the Minister of State for Power; Minister of Finance; Permanent Secretary, Ministry of Power; director-general, Bureau of Public Enterprises; managing director, Gas Aggregation Company of Nigeria; and NBET’s managing director.
The power generating companies in the letter contended that the charge was not backed by any market rule.
It therefore called on NERC to call NBET to order.
“Gencos believe that one of the primary responsibilities of the regulator in a newly privatised market should be to prevent market participants’ behaviour that could disrupt the market and significantly degrade market efficiency and system reliability.
“Gencos are also of the view that processes entrenched in the Electric Power Sector Reform Act, Market Rule and other applicable codes must be followed in dealing with issues at all times.
“Arbitrariness, duress or undue influence should not be allowed in a nascent market as ours,” the letter read in part.
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