The Nigerian Electricity Regulatory Commission (NERC) has barred core investors of the successor generation and distribution companies of the Power Holding Company of Nigeria (PHCN) from participating in the sale of the National Integrated Power Projects (NIPP) , in line with its commitment to prevent oligopoly and market rigging in the emerging power sector.
The rule is aimed at expanding the number of players in the sector to foster better competition.
According to the regulator, no core investor or dominant player will be allowed to buy the assets put on sale by Niger Delta Power Holding Company (NDPHC). Only minority investors like institutional investors such as the Africa Finance Corporation, who are themselves subject to regulation can participate.
Sam Amadi, chairman, NERC, said: “We want to make the market competitive. We also want to ensure that nobody can have more than one plant.”
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