Minister Cautions Market Participants On Metering Data

The Minister of Power,
Prof. Chinedu Nebo, has cautioned market participants against compromising the integrity of the metering data, saying this will affect the accuracy of market settlement.
Nebo gave the advice when he launched the trading points meter handover to the market participants at Apo Transmission Station in Abuja last Thursday.
He also stressed the need to ensure the accuracy of the market settlement, and warned Market Participants against doing anything that would undermine the integrity of the metering data.
The minister said this was because metering was an important aspect of the electricity market, Whatever your investment in the utility facilities, the output is measured in terms of power and energy which must be metered before payment is made. “This means metering is a very important aspect of the electricity market,” he said.
Nebo said the trading points meter handover to the market participants was a condition precedent for the declaration of the Transitional Stage of the Nigerian Electricity Market.
He recalled that the Pre-Transitional Electricity Market (TEM) had tarried for a while as the legacy facilities were under the control of the government.
According to him, every participant, including the Generating Companies, the Transmission Services Provider (TSP) and the Distribution Companies should have trading point meters at their various trading interface.
“Although the Market Operator has been handling and managing these meters till now, the meters actually belong to the participants.
“Now as one of the conditions precedent for TEM, the market operators have scheduled to formally handover these meters to the participants.
“This means from henceforth the participants will assume responsibility for their trading point meters while the market operators offers the metering regulatory oversight functions,” he said.
He said Mr President’s power reform agenda was leaving no stone unturned in ensuring that the country enjoys stable electricity.
The minister gave assurance that the gaps being experienced in revenue collection would soon be a thing of the past as the new investors had been enjoined to invest in metering.
He said the investment was expected in both the up and lower stream sections of the electricity power flow.