Full Commercialisation Of Electricity Begins

Full Commercialisation Of Electricity Begins

The Nigerian government has begun full commercialisation of the various companies established to succeed the national electricity company, the Power Holding Company of Nigeria (PHCN).

President Goodluck Jonathan on Wednesday, in Abuja , said the government had also taken steps to protect the populace from unwarranted exploitation by prospective investors in the power sector.

He listed some of the measures to include the review of the Multi-Year-Tariff Order, the process of liquidating PHCN and the establishment of a lifeline tariff, specifically for the urban poor and the rural dwellers.

The President said that the government had put in place a Power Consumer Assistance Fund, through which the system of lifeline tariff would be administered.

''We are most optimistic and expectant that with continued focus, this government will achieve its desired goals in laying a solid and sustainable foundation for a viable power sector,” he said.

President Jonathan announced these while inaugurating the new board of the Nigerian Electricity Regulatory Commission.

Jonathan urged the commission to use all policy and legal instruments at its disposal to ensure that the objectives of regulations of the electricity industry were achieved in ‘a transparent, fair and balanced manner to the benefit of all' .

He maintained that the commission had a vital role to play in providing the enabling regulatory environment that would support private sector players to invest and operate in an efficient and responsible manner.

Dr. Sam Amadi is the Chairman of the board, which has seven commissioners as members.

The Commission was established by an Act of the National Assembly to among other things, maximise access by all Nigerians to electricity supply that is adequate, safe, secure, reliable and fairly priced through the creation, promotion and preservation of efficient electricity market structures'.

NAN/Yinka