DisCos’ monthly remittance hits 35% as TCN mulls penalties

The monthly remittance of the 11 electricity Distribution Companies (DisCos) is now at 35 per cent just as the Market Operator (MO) section of the Transmission Company of Nigeria (TCN) has vowed to enforce compliance and penalties for defaulters.

The Executive Director of MO, Mr Moshood Saleeman who disclosed this at a participants and stakeholders meeting in Abuja yesterday, said, “We now experience a marginal increase of 35 per cent in the remittances of the DisCos but we are not yet there; it is improving gradually.”

The Managing Director of TCN, Mr Usman Kur Mohammed urged the participants to avoid the blame game and work towards promoting the power sector.

Represented by the Director, Finance & Accounts, Mr Sunny Iroche, he said TCN has improved its capacity to 6,500 megawatts (mw) and that the highest generation ever recorded was 5,074mw in February 2016 which TCN was able to wheel.

POSTED BY:OPUOMONI PRIYE

DATE:05/19/2017