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UKNIAF met with the Minister of Power
- Offers support to move the market from TEM to MTEM
The United Kingdom Nigeria Infrastructure Advisory Facility (UKNIAF) met with the Minister of Power, Sale Mamman. The Team led by the Power Team Lead, Frank Edozie pledged the support of the UKNIAF to move the market from the current Transitional Electricity Market (TEM) stage to the Medium Term Electricity Market (MTEM) stage.
The Federal Government is seeking support from the UKNIAF in areas of policy reform, renewable energy, distribution tariffs, grid-related issues, and DisCos audits. In a series of tweets from the handle of the Minister, both parties how the facility can be of help with providing technical support to @NERCNG, @TCN_NIGERIA, @realREANigeria & @nbetnigeria. This support would be given by focusing on power sector policy reforms, tariff reforms, DisCo audits, grid efficiency, and sustainable off-grid renewable solutions”.
The TEM stage of the electricity market sets the stage for a transition to MTEM in which the market is fully contract-based and tariffs are a function of market forces.