TCN Targets Additional N700m Revenue from Power Wheeling Charges

*As NERC deplores rising attacks on Discos’ workers

Chineme Okafor in Abuja

The Transmission Company of Nigeria (TCN) has said it is targeting to increase the revenue it earns on electricity wheeling charges by over N700 million within the next six months when it completes some ‘quick-win’ transmission projects in the country.

It also said it will empower the country’s regions and increase their autonomy to undertake transmission responsibilities with some Key Performance Indicators (KPI) through which they can be monitored and held accountable.

A statement from the TCN Tuesday in Abuja equally disclosed that the company was working to change its management practices as well as remove bottlenecks in its payment processes.

It said these decisions amongst others were taken at a one-day management retreat to brainstorm and strategise on the way forward for the company.

The retreat, it noted discussed extensively on the company’s operations, and how to ensure that it achieves specific short term goals.

“It critically analysed the company’s strengths, weaknesses and areas to be improved upon as well as opportunities available for improved service delivery, sustained capacity development and stability in the nation’s transmission network,” the statement said.

It added that although the company has the capacity to wheel maximum power generated from the electricity generation companies (Gencos) to distribution companies (Discos), it would continue to work assiduously to further expand its grid capacity.

“Although the grid stability is presently impaired, due to lack of adequate generation, TCN would continue to work at averting the collapse of the system.

“Three specific short term projects were identified as quick win projects that should be completed with the least amount of money and yet have maximum impact on the transmission network,” said the statement.

It added: “These quick win projects would be given highest priority attention in order to improve the network and increase return on investment.