BUSINESS
Fashola Tasks NERC To Compel DisCos To Utilise Power Generated
The minister of power, works and housing, Babatunde Raji Fashola, on Monday charged the Nigerian Electricity Regulatory Commission (NERC) to immediately direct electricity Distribution Companies (DISCOs) operating in the country to improve on their distribution equipment and capacity to take up the available 2,000 megawatts (MW) generated by GenCos but had remained wasted due to inability distribute same.
The order, according to the minister became necessary in order to optimise the use of the electrical resource produced by the power generating companies (GENCOs,) as well as to minimise the financial wastage it cost the industry .
Addressing journalists on developments in the industry, Fashola stated that it was not his intention, or that of government to take over the business of DISCOs, on the contrary, it was government’s desire to see DISCOs thrive and flourish in a competitive environment.
Fashola said NERC should enforce the contract of DISCOs to supply meters and act to ensure the urgent speedy supply and installation of meters with a view to eliminating estimated billing and promote efficient industry and market structures.
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