Power Probe: NERC plans new regulations to forestall electricity crisis

In a calculated move to avoid  a recurrence of the 2000/2001 California electricity crisis in Nigeria, the Nigerian Electricity Regulatory Commission (NERC) has said it is working on a new set of regulations that could prevent the country’s budding electricity market from collapse in the event that any of its critical players – generation, distribution or transmission companies – goes bankrupt.

NERC said the new regulations which will possibly come on stream in a couple of days, seek to forewarn the market of an impending crisis from the insolvency of any of its players, to enable it guard against a contagious effect on other operators and the market at large.

The commission’s Chairman, Dr. Sam Amadi, made this disclosure during a presentation at the ongoing hearing of the Senate ad-hoc committee, set up by the Senate President, Bukola Saraki, to probe past governments’ expenditures in the power sector.

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