NERC releases law on direct power purchase from Gencos

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The Nigerian Electricity Regulatory Commission (NERC) on Monday released the newly-approved eligible customers’ law and outlined the terms that would guide the direct purchase of electricity by end-users from power generation companies, The Punch reports.

In May this year, the Minister of Power, Works and Housing, Babatunde Fashola, declared that eligible power consumers would be free to purchase electricity directly from the Gencos.

Despite the Discos’ opposition to the law, NERC on Monday presented the approved terms to Fashola in Abuja, and announced that the 11 electricity distribution companies had been designated as suppliers of last resort in the trading framework of the new law.

The Vice Chairman, NERC, Sanusi Garba, who presented the law to the minister, explained that the regulation was a product of extensive consultations with relevant stakeholders in Lagos, Kano, Yola, Jos, Port Harcourt, Enugu and Abuja.