FG, and electricity stakeholders to work on equitable electricity tariffs.

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The Minister of Power, Engr. Sale Mamman on Monday dropped the hint that the ministry and stakeholders of the electricity market working are towards the establishment of a predictable and equitable regulatory regime from the perspective of ratepayers and investors.

He earlier raised the alarm over the widening liquidity gap in the Nigeria Electricity Supply Industry (NESI), stressing that there is need to reinforce market structures and enhance transparency.

Speaking at the International Conference on Energy, Power Systems Operations and Planning (ICEPSOP 2020) in Abuja, he revealed that the ministry is already working hard to address the challenges by improving metering.

The theme of the conference is “Empowering Micro Grif with Smart Grid Attributes Development in United States and Africa.”

In association with the Central Bank of Nigeria, Federal Ministry of Finance, and other stakeholders, according to him, the ministry is to fuse a portfolio of activities to support the success of the electricity market.

His words: “The widening liquidity gap in the sector makes urgent, the need to reinforce market structures and enhance transparency. To address this challenge we are working hard to improve metering in general and in particular the use of smart meters as well as smart grids.

“In addition, the ministry is coordinating with the regulator, Ministry of Finance, the Central Bank of Nigeria, and other stakeholders to consolidate a portfolio of activities deemed critical to success, such includes refinement of commercial, technical, and regulatory components of transaction agreements; promotion of discipline; enforcement of contract effectiveness a day; establishing a predictable and equitable regulatory regime from the perspective of ratepayers and investors.”

The minister said that the ministry is focusing on electricity access for the teeming Nigerian population through the use of mini grid and micro grid.

Author: Austine