http://www.punchng.com/business/business-economy/were-set-for-transitional-electricity-market-operators/

We’re set for Transitional Electricity Market – Operators

The Operator of the Nigerian Electricity Market has declared its readiness for the long awaited Transitional Electricity Market.

According to power market operator, it has prepared all conditions precedent required for the declaration of TEM

Since the privatisation of the power sector in November last year, operators have strived to meet the conditions precedent before TEM is declared.

Some of the conditions are strict adherence to gas supply contracts by power generation companies; prompt and adequate settlement of electricity debts by distribution companies and smooth evacuation of generated power by the Transmission Company of Nigeria.

TEM is a stage that will ensure strict accountability and boost investment in the Nigerian electricity market after it was fully privatised on November 1, 2013.

The Federal Government on three occasions had postponed the declaration of the transitional market as a result of the inability of operators in the sector to meet the CPs.

Speaking during a stakeholders’ sensitisation workshop in Abuja, the Executive Director, ONEM, Mrs. Ngozi Osuhor, said ONEM was prepared for TEM.

She said, “We have prepared all the CPs for TEM. For instance, we have our settlement and payment platforms in place and we have conducted the training that we need to conduct. One other thing that we are working on now is the ability to read the meters from a central point, our operation command centre, which is right there in the TCN.

“The TEM requires a declarative statement that must be made by the minister of power. So, except that statement is made, we cannot enter TEM. What we are doing is to prepare the market so that when it gets to TEM, it will move smoothly.”

The Minister of Power, Prof. Chinedu Nebo, last week said the transitional market might be declared in the next six weeks.

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