Reps panel orders DisCos to clear outstanding debts
The House of Reps Committee on Power urges electricity distribution companies (DisCos) to urgently settle outstanding market debts to ensure Nigeria’s powe Read More: https://punchng.com/reps-panel-orders-discos-to-clear-outstanding-debts/
The House of Representatives Committee on Power has urged electricity distribution companies with outstanding market obligations to settle their debts urgently, emphasizing that improved liquidity is crucial for the sustainability of Nigeria’s power sector. In a statement released on Thursday, Committee Chairman Nwokolo Onyemaechi expressed concern over the accumulation of market debts by several distribution companies (DisCos), including the Ibadan Electricity Distribution Company (IBEDC), Benin Electricity Distribution Company (BEDC), and others.
Onyemaechi emphasized that the affected DisCos must take immediate steps to settle their obligations and strengthen compliance with electricity market rules to avoid adverse effects on liquidity and sustainability. The committee witnessed a public hearing on the outstanding market obligations of IBEDC, chaired by NISO’s Executive Director, Market Operations, Edmond Eje, as part of ongoing engagements with DisCos over compliance matters under the Nigerian Electricity Market Act.
Brief written by urgent.news from Punch Nigeria's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
