The electricity Distribution Companies (DisCos) on Tuesday urged the Federal Government to respect the various agreements it entered into with the investors in the Nigerian Electricity Supply Industry (NESI).
Following the commencement of the Transition Electricity Market (TEM), the electricity market was expected to be governed by the sanctity of power purchase agreements that the private investors entered into with the government.
Part of the power agreements is the minor and major reviews of the Multi-Year Tariff Order (MYTO), which the Nigerian Electricity Regulatory Commission (NERC) has frozen since 2015.
The Executive Director, Research and Advocacy, Association of Nigerian Electricity Distributors (ANED), Barrister Sunday Odutan yesterday insisted that “the Federal Government of Nigeria must respect the sanctity of contracts”.
ANED is the umbrella body of the DisCos.