began the process of reviewing the
Market Rules that will guide the
privatised electricity sector operations,
ahead of the declaration the Transition
Electricity Market, TEM, by March next
year.
Chairman of the Nigerian Electricity
Regulatory Commission, NERC, Dr. Sam
Amadi, disclosed at a workshop organised
for the review of the Market Rule in
Abuja that the Interim Rule for the
current Interim Market operations is still
being reviewed in collaboration with the
new investors.
Amadi noted that while the Market Rule
is being reviewed for possible
amendment following a change in the
power sector operations, the interim rule
has been drafted and would soon be
ready to guide the new investors during
the ongoing interim and market testing
period.
In his remark, the Minister of Power,
Prof. Chinedu Nebo, who was
represented by his Senior Special
Assistant, Prof. Chidiebere Onyia said,
"there are certain things that we are
trying to ensure that they are put in place
before the declaration of TEM."
According to him, "this is one of those
things that should be in place before the
commission, NERC, can advise the
Minister to declare TEM. Right now we
are looking at the 1st of March, 2014.
He said the review of the interim rule will
guide the new owners in the current
interim operation, adding, "I am happy
that the Interim Rule is being reviewed,
but more importantly with the
contributions of stakeholders and all of
you here."
Speaking earlier, the Chairman of the
Initial Stakeholders Advisory Panel, ISAP,
and Director General of the Nigerian Bulk
Electricity Trader, NBET, Mr Rumundaka
Wonodi, stated that the panel
commenced a holistic review of the
Market Rule in July 2012, in anticipation
of TEM in collaboration with all the
stakeholders.
Wonodi noted that the previous Market
Rule was based on public sector TEM,
adding that the erstwhile privatisation
and handover was deemed for the
medium market which is no longer the
case, hence the need for amendment of
the MR to reflect current realities.
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