The Transmission Company of Nigeria, TCN, operators of Nigeria’s electricity grid have held talks with Ibom Power Company Limited as part of activities towards TCN’s Transmission Expansion Plan and Performance Improvement Plan.
At the meeting held today in the Uyo office of Ibom Power, TCN disclosed that the Expansion Plan and Performance Improvement Plan will lead to a major review of the Multi-Year Tariff Order, MYTO, over the next tariff regime.
According to TCN, this initiative has the potential to determine what electricity customers will pay to distribution companies for electricity.
The Nigerian Electricity Regulatory Commission, NERC adopted the MYTO methodology as the framework for determining the pricing structure in the Nigerian Electricity Supply Industry, NESI.
MYTO essentially designates the classes of customers in the NESI, determines the tariff payable by customers in the different classes and introduces a tariff regime that is based on the level and quality of service provided by power distribution companies to their customers in the different classes.
The TCN delegation represented by an Assistant General Manager, AGM, Engr. Abutu Emmanuel and Engr. M.N. Nwagu stated that the sensitization visit to Ibom Power, as a key stakeholder, is towards the commencement of the project.