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LequteMan
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Nigeria- Commencement of the much awaited Transitional Electricity Market, set to kick off on the 1st of January 2015, has been postponed to February because some power firms are yet to fulfill certain necessary conditions, The Punch reports.
Excerpt:
TEM is the third stage in the development of the electricity market from monopoly to full competitive market, such that participants in the market will commence full trading by contract.
Structures for a competitive and efficient electricity market will be institutionalised at this stage of the market development, according to the Nigerian Electricity Regulatory Commission.
The Minister of Power, Prof. Chinedu Nebo, had on December 22 announced that TEM would be declared on January 1, 2015, the effective date for the commencement of all contractual obligations in the Nigerian Electricity Supply Industry.
But our correspondent gathered that the effective date would be February as some of the power firms had yet to secure letter of credits required to access the N213bn Nigerian Electricity Market Stabilisation Facility provided by the Central Bank of Nigeria.
click here to read more
#Nigeria #NERC
Excerpt:
TEM is the third stage in the development of the electricity market from monopoly to full competitive market, such that participants in the market will commence full trading by contract.
Structures for a competitive and efficient electricity market will be institutionalised at this stage of the market development, according to the Nigerian Electricity Regulatory Commission.
The Minister of Power, Prof. Chinedu Nebo, had on December 22 announced that TEM would be declared on January 1, 2015, the effective date for the commencement of all contractual obligations in the Nigerian Electricity Supply Industry.
But our correspondent gathered that the effective date would be February as some of the power firms had yet to secure letter of credits required to access the N213bn Nigerian Electricity Market Stabilisation Facility provided by the Central Bank of Nigeria.
click here to read more
#Nigeria #NERC
