NERC can cancel Discos’ licences, force re-capitalisation – Fashola
The Minister of Power, Works and Housing, Mr. Babatunde Fashola, on Monday affirmed that the Nigerian Electricity Regulatory Commission (NERC) has enough regulatory options to use against any of the 11 electricity distribution companies (Discos) that fail to meet up with the federal government’s recent order to them to improve on their services to Nigerians or exit the market.
Fashola said in a Channels Television programme – Sunrise Daily – in Abuja that the NERC was statutorily allowed to amend or revoke the licences of the Discos, as well as force them to recapitalise their funding base to be able to do their jobs.
He explained that any of the options NERC chose to use to get the Discos to be responsive were within its statutory powers and conditions of the agreements the Discos signed with the government during the 2013 power sector privatisation.
The minister however noted that revocation of licences of the Discos should be a last resort for the regulator in this case, adding that with these options, NERC could not be helpless in its enforcement of the Discos’ obligations to the market.
Source: THIS DAY