By; IBRAHIM ADAMU, Kaduna.
Barring any last minute change, market operators under Transmission Company of Nigeria(TCN) has indicated readiness to reconnect distribution companies back to National grid after seven days of power outage.
This was contained in a press statement by TCN on Sunday.
Engineer E.A. Eje who signed the statement on behalf of Market Operators disclosed that the decision to reconnect the distribution companies was brokered minister of power, adding that power would be restored by 12 midnight on May 1, 2023.
He was quick to however add a caveat that the affected DISCOS would have a leverage of a 60-day leverage within which to meet their obligations to the transmission company.
“The Market Operator, Transmission Company of Nigeria ( TCN), wishes to announce that it is set to reconnect, at midnight today (1st May 2023), the three Distribution Companies earlier disconnected from the Electricity power grid as a result of non compliance with the Market Rules.
“This is coming at the intervention of the Hon. Minister of Power, Engr Aliyu, who has considered the collateral consequences on the paying Disco Customers.
“The Suspended & Disconnected defaulting Market Participants will be reconnected to the National Grid at the instance of the Honourable Minister of Power.
“The intervention by the Honorable Minister of Power has automatically prolonged the grace period to 60 days from this publication.
“All Market defaulters should comply with the provisions of the Market Rules with respect to payment of their outstanding invoices, posting of adequate Bank Guarantees (BG), and forwarding of their active Power Purchase Agreements (PPA) as the case may be, to the Market Operator/TCN.
“It should be noted that other defaulters who are yet to be Suspended/Disconnected should cure their defaults within this sixty (60) days.
“At the expiration of this grace period, the Market Operator will resume sanctions in line with the Market Rules.
“The MO/TCN is hereby urging the erring Discos to seize this opportunity to fix their defaults as we applaud the intervention of the Honorable Minister of Power,” he said.