The Transmission Company of Nigeria (TCN) has disclosed that the 11 electricity distribution companies (Discos) have not stopped the practice of rejecting generated electricity loads allocated and sent to them for onward distribution to customers in their distribution networks.
The company also said that the Discos monthly financial remittances to the electricity market are still far below what is expected of them by the market, a development it said is affecting the liquidity status of the market.
TCN explained that the Discos’ now remit only about 35 per cent of their monthly invoices, which represents a marginal rise by five per cent when compared to the 30 per cent that it reported was the case in 2016.
The Executive Director, Finance and Accounts, TCN, Mr. Sunny Iroche, told journalists on the sidelines of a recent market participants workshop in Abuja that the load rejection practices of the Discos often made the TCN to direct power generation companies (Gencos) to reduce the quantum of electricity they generate.
“We do this because generation must balance utilisation and that is very important to avoid collapse of the system,” Iroche said.
Similarly, the Executive Director, Market Operations (MO) Department of the TCN, Mr. Moshood Saleeman, stated that the MO had decided to ensure that henceforth, the Discos remit what they get from the market to participants, according to the Market Rules, which stipulates 100 per cent remittances of their invoices to the market.
