The Nigerian Electricity Regulatory Commission (NERC) has issued a notice to the Transmission Company of Nigeria (TCN), indicating its desire to commence enforcement actions on its Market Operator (MO) department for operating an autonomous bank account.
NERC, in the notice which was communicated in a statement from its head of public communication in Abuja, Dr. Usman Arabi, gave the erring MO a seven-day ultimatum to take remedial actions by winding down its operation of the unilateral bank account and report compliance to it.
The MO is a division of the TCN and it issues market settlements and invoices due to the market participants and service providers in the Nigerian Electricity Supply Industry (NESI).
