The
transitional electricity market (TEM), a stage that will ensure accountability
and boost further investment in the Nigerian electricity market is expected to
come on stream in November, BusinessDay has learnt.
It
was gathered that the Nigerian Electricity Regulatory Commission (NERC) had in
a meeting on Wednesday considered the launch of the TEM in about two months’
time.
TEM
represents the intermediate step to move the electricity market in an orderly
manner from an integrated whole utility to a fully competitive market structure
with more differentiated players.
The
electricity market is currently operating under a set of government interim
rules. The interim rules were developed and issued by NERC in December 2013 to
conduct the market in the pre-TEM phase until the declaration of TEM. The
interim rules order was later modified with the revision taking place with
effect from May 1, 2014.
“We
are very much eager for
