We now receive 100% remittance from DisCos ― TCN boss

The Transmission Company of Nigeria (TCN) has said that it now receives 100 percent remittance of the Market Operators invoice from the Electricity Distribution Companies (DisCos) since it began the enforcement of the market rule.

It stated that since privatisation of the power sector in 2013, the remittance was less than 45 per cent monthly from the DisCos.

The Company’s managing director, Mr. Usman Muhammed, made the disclosure at stakeholders, donor meeting in Abuja.

He said the market operations sector of the TCN was empowered by the market rules to enforce compliance with the rules by all participants; hence the steps by the Company to strictly enforce the rules.

“Since the handover of the privatised companies on October 31, 2013, the market has been characterised by low compliance with various provisions o industry ruling documents leading to unsatisfactory market performance.

“The current management took the decision to strongly support and encouragement to me MO to enforce relevant provisions of the market rules with a view to instilling discipline in the market.

“Interestingly, the enforcement, since its commencement in May 2019, has resulted in 100 per cent remittance of the MO invoice by the DisCos as against the usual poor performance of less than 45 per cent monthly.”

Although he said the DisCos were still to pay the company an outstanding debt of N270billion, he added that a letter had been sent to the Minister of Power, Engr. Sale Mamman, on compelling the DisCos to pay the sum to the Nigerian Bulk Electricity Trading PLC (NBET).

He noted that the sum was the revenue the DisCos failed to remit before his assumption into office, but stressed that the market rule enforcement had further revealed the strength and ability of each DisCo to cope under the market conditions.

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