- GenCos begin contract renegotiation.
- Eligible customer regulation is still ongoing.
The Nigeria Electricity Regulatory Commission (NERC) has announced that some generation companies (GenCos) have commenced the renegotiation of contracted capacity with the Nigeria Bulk Electricity Trader (NBET) to free up energy for eligible customers.
Musiliu Oseni, Vice Chairman, NERC, disclosed this in a meeting in Abuja. He emphasised that there has been no alteration in implementing the eligible customers’ regulation. He noted that a few eligible customers have been able to complete their submission and review of the necessary documentation. However, Musiliu added that some of the customers that are yet to secure approval have bottlenecks that include data or the inability of their potential generator to sell additional capacity to them under the framework.
On the renegotiation, he stated, ” some of the GenCos are also making a move to renegotiate the contract already made with NBET to free up some capacity to sell to eligible customers. Hence nothing wrong is happening to the regulations in place. This framework is still ongoing.”