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The Market Operator (MO), Transmission Company of Nigeria (TCN), has announced its readiness to reconnect three Distribution Companies (DISCOs) earlier disconnected from the electricity power grid as a result of non compliance with the Market Rules, issuing them sixty (60) days ultimatum, within which, they should cure their defaults.
The Market Operator noted that the defaulting DISCOs will be reconnected to the national electricity grid at midnight of the 1st of May 2023.
A statement signed by Engr. E. A. Eje on behalf of MO/TCN noted that it decision to reconnect the DISCOs came after the intervention of the Hon. Minister of Power, Engr. Abubakar D. Aliyu, who has considered the collateral consequences on the paying DISCO customers.
“These 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”, the statement concluded.