NEW PHCN OPERATORS RAISE CONCERN OVER MYTO2 COMPLIANCE

There are serious indications that the power sector privatisation exercise is experiencing some hiccups following alarms raised by some core investors in Distribution and Generation of electricity Companies over the insistence on strict compliance on Multi Year Tariff Order, MYTO 2.These developments emerged at a general meeting with the new owners of all successor companies, organised by Nigerian Electricity Regulatory Commission, NERC, in Abuja to apparently weigh the initial problems of the Discos and Gencos and craft interventions that will address such challenges. Many stakeholders, who spoke at the meeting lamented the non-functionality of the MYTO2 following the prevailing realities which they insist make compliance difficult, urging the NERC to review the realities on ground rather than hold them with their business plan.