DisCos remittance to TCN hits 35% – Market Operator

0
143

The Market Operator (MO) of the Transmission Company of Nigeria (TCN) on Thursday said that the monthly remittance of the 11 electricity Distribution Companies (DisCos) has now increased marginally to 35 per cent, The Nation reports.

Speaking at a participant and stakeholders meeting in Abuja, the Executive Director of MO, Mr Moshood Saleeman vowed to enforce compliance and penalties for defaulters. He said: “We have now experienced a marginal increase of 35 per cent in the remittances of the DisCos but we are not yet there; it is improving gradually.”

Saleeman said in spite of the three years after privatisation and about two years into the Transition Electricity Market (TEM), the power sector is still experiencing liquidity. He noted penalties will be strictly enforced especially on Market Rule 45 about market payment.