ERC proposes to cap reserve market price at P19 per kWh

  • 📰 MlaStandard
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 55%

Nigeria News News

ERC proposes to cap reserve market price at P19 per kWh
Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Defining the News

The Energy Regulatory Commission proposed an interim price cap of P19 per kilowatt-hour for the reserve market, subject to consultations and additional data from power generators.

The ERC drafted a resolution on “Setting an Interim Offer Price Cap as Mitigating Measure for the Trading of Reserves in the Wholesale Electricity Spot Market .” Simulations conducted on the proposed P19,000 per MWh cap showed that it would result in an annual net revenue requirement greater than the computed annual market revenue.

“The interim offer price cap shall be reviewed and recomputed one year after its implementation, contingent on the collection of sufficient data from the annual submissions of generation companies,” the ERC said.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

MlaStandard /  🏆 20. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Anti-ASF vax to revive hog industryDefining the News
Source: MlaStandard - 🏆 20. / 55 Read more »