Abuja — The Minister of Power, Prof. Chinedu Nebo, has advised electricity market operators on the need to adhere to the interim market rules for better efficiency in the electricity distribution process.
Nebo gave the advice at a sensitisation workshop on the implementation of the interim market rules in Abuja on Wednesday.
“The government, understanding the complexity of the sector reform, has made provision for the establishment of rules and regulations to govern the market.
“The strict adherence of the laid out rules and regulations by the operators and participants of the market, has informed the need for this workshop,” he said.
He said the implementation of the market rules would go a long way in the running of the market in a manner that was transparent, efficient and adequate to all stakeholders.
He stressed the need for market operators to be properly registered and ensure that the payment schedules were strictly followed according to the interim rules.
He expressed optimism that the workshop would provide stakeholders with the opportunity to understand the processes of the interim market, particularly with regards to compliance with market calendar.
Earlier, the Chairman, Nigerian Electricity Regulatory Commission (NERC), Dr Sam Amadi, said the interim market rules were meant to guide the operational efficiency of the operators.
He stressed the need for the market operators to register their companies with the relevant bodies and ensure remittances for the gas and electricity supplied to them.
Also, Mr Jan Bagnall, Executive Director (Market Operations), Transmission Company of Nigeria (TCN), said the registration of the market participants would ensure smooth operations between it and the distribution companies.
“The proper registration of the operators will enable us know who to contact, where to contact them, and what their bank account are.
“So, we can credit or debit the proper amount for participating in the market,” Bagnall said.
He said so far, only about 40 per cent of the market operators, had properly registered their companies with the TCN. (NAN)