The management of Ikeja Electricity Distribution PLC on Friday said it has begun moves to get the Transmission Company of Nigeria to rescind its order to suspend it from participation in the electricity market and disconnect some of its facilities from the national grid.
Consequently, the TCN said electricity intake by the two companies from the Transmission Service Provider through the national grid would henceforth be disconnected. Part of the agreement was for the DISCOs to, among other roles, provide metering information in a timely manner and in the approved format in accordance with the Metering Code.
Despite adequate notice about the breaches, the TCN said the DISCOs failed to remedy their defaults within the stipulated period in line with relevant sections of the rules. PREMIUM TIMES learnt that the company had responded to the notice demanding it to remedy its security cover, by forwarding a bank guarantee issued on its behalf by Zenith Bank on June 3.
He said the request for an extension was to provide sufficient time for its Bankers to process the requests through the bank’s credit committees and other relevant approvals procedures.