Key Points
- NISO and NBET plan closer cooperation to improve electricity market operations.
- Both agencies identified liquidity, settlement and revenue coordination as areas for collaboration.
- The partnership is aimed at improving power reliability and attracting investment.
Main Story
The Nigerian Independent System Operator (NISO) and the Nigerian Bulk Electricity Trading (NBET) have agreed to strengthen their working relationship as part of efforts to improve the country’s electricity market.
NISO Managing Director, Mr Abdu Mohammed, made this known on Tuesday in Abuja, saying closer coordination between the two agencies would help create a more efficient, transparent and investment-friendly market.
Mohammed said the agencies had complementary responsibilities within the electricity market, making cooperation between them essential to achieving a more effective system.
He explained that while NISO was responsible for managing the service side of the market, NBET handled the energy component.
According to him, both organisations ultimately share the objective of ensuring that Nigerians have access to a stable and reliable electricity supply.
Mohammed said NISO was prepared to work with NBET and other industry stakeholders to tackle liquidity challenges affecting the electricity sector.
He noted that the two agencies had historically worked together and that the current leadership intended to strengthen that relationship.
The NISO managing director also called for greater cooperation under the leadership of the Minister of Power, Joseph Tegbe, saying stakeholders had a responsibility to work together to address persistent challenges in the sector.
He said closer collaboration between NISO and NBET would also support the objectives of the electricity sector reforms introduced under the Electricity Act 2023.
NBET Managing Director, Mr Akinola Odeyemi, commended NISO for its efforts to improve the electricity market and pledged his agency’s continued cooperation.
Odeyemi said he visited NISO following his appointment to identify areas where both agencies could work more closely.
He said discussions between the two organisations focused on market settlement, revenue coordination and other measures for improving the overall operation of the electricity market.
Odeyemi said NBET would maintain a strong working relationship with NISO and other sector agencies to support the continued development of the market.
According to him, a stronger electricity market would help attract investment and ultimately contribute to improved power supply across the country.
The Issues
The collaboration comes against the backdrop of challenges affecting the electricity market, particularly liquidity and coordination among key institutions.
Improved cooperation between NISO and NBET is expected to support more effective market operations, settlement processes and revenue coordination.
What’s Being Said
Mohammed said NISO and NBET had closely connected responsibilities and needed to work together to make the electricity market more efficient and attractive to investors.
Odeyemi said NBET would work with NISO to preserve existing gains while identifying further opportunities to improve the market.
What’s Next
NISO and NBET are expected to deepen cooperation around market settlement, revenue coordination and other aspects of electricity market management.
Both agencies are also expected to work with other stakeholders to address sector challenges and support investment in the electricity market.
Bottom Line
NISO and NBET are strengthening their partnership to improve electricity market operations, address liquidity and coordination challenges, attract investment and support more reliable power supply in Nigeria.
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