Home » News » NERC slams fine on TCN for regulatory breaches.

NERC slams fine on TCN for regulatory breaches.

The Nigerian Electricity Regulatory Commission, NERC has slammed a forty-seven point six million Naira fine on the Transmission Company of Nigeria, TCN for various regulatory breaches, which they say is also due to the company’s failure to submit its 2013 and 2014 audited financial statements.

This is coming as the eleven power distribution companies in the country have declared that the Nigerian electricity industry is on the verge of collapse as a result of the poor tariffs being charged consumers.

Although they did not call for an increase in the electricity tariffs, the Discos warned that the sector was under grave threat on account of various operational challenges occasioned by the exorbitant and unstable naira to dollar exchange rate.

On the fine against the TCN, NERC stated that the company had up to two weeks from December 2, 2016 when the disciplinary order was signed by its acting Chairman, Dr. TONY AKAH; and the General Manager, Legal, Licensing and Enforcement, Mrs. OLUFUNKE DINNEH, to pay up.

Let your voice be heard, leave a comment

We love comments

%d bloggers like this: