Electricity market has N777bn shortfall – ANED




By Benjamin Umuteme

Abuja

The Association of Nigerian Electricity Distributors (ANED) has disclosed that Nigerian electricity market presently has a shortfall of N777 billion.
ANED’s Executive Director, Research and Advocacy, Mr. Sunday Oduntan, who disclosed this in Abuja also called on the government to convert the shortfalls into regulatory assets to enable the operators access the funds.
According to him, current revenue should be immediately plugged through intervention fund.
He asserted that the Transmission Company of Nigeria (TCN) was not being properly funded by the government.
He suggested that if the government was having difficulty in funding the company it should be concessioned to private sector operator to mange efficiently.
The federal had last week approved fthe some of ‎N701 billion as intervention fund to cover projected revenue shortfall between 2017 and 2019.
Mr. Oduntan further called on the government to address once and for all the lingering tariff issue in the sector.
The Director also said that DisCos were losing money as the government continues to foot drag in resolving issues around tariff.
The Association’s top shot also said the government needs to set up mobile courts to prosecute those found guilty of engaging in electricity theft as according to him, “a lot of Nigerians bypass.”
While saying that regulatory inconsistencies was a serious challenge in the sector, Mr. Oduntan advised the sectors’ regulator that for it to achieve the desired result, result, policies must be consistent, accountable, transparent, and participatory.
According to ‎him, “there must be transparency across the value chain.”

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