Transitional electricity market to begin Jan 1

The Federal Government has announced that the
effective date for the beginning of all contractual
obligations in the Nigerian electricity market has
been fixed for January 1, 2015.
It said January 1, 2015 is also the date for the
declaration of the long awaited Transition
Electricity Market.
The Minister of Power, Prof. Chinedu Nebo, who
disclosed this at a stakeholders forum on Monday
in Abuja, said the main focus of TEM would be the
consummation of all contractual obligations as
stipulated in the market rules.
He said TEM declaration was not the start of the
transition, but an attempt to make the market
more mature and robust.
Nebo, in a statement by the Federal Ministry of
Power, called on all players to fulfill their
obligations, stressing that the Federal Government
would not accept any excuse as to why they were
unable to provide Nigerians with uninterrupted
power supply.
The minister disclosed that the Central Bank of
Nigeria was ready, hence all market participants
should perfect their papers in order to access
cheap funds under the government’s intervention
initiative.
Nebo also disclosed that government was
determined to radically address the lingering
metering-gap existing in the power sector.
This, he said, would help block leakages in
revenue, thereby making more resources available
for investment.