The Minister of Power, Prof. Chinedu Nebo, on Tuesday in Abuja inaugurated an automated Power Collect Command Centre meant to ensure transparent revenue collection and payment in the electricity value chain.
Nebo said that the centre, which was developed by the Market Operator (MO) in conjunction with the CBN Nigeria Interbank Settlement System (NIBSS), will ensure equitable revenue collection and payment in line with international best practice.
The measure, which is code-named NIBSS/ Power Collect, is aimed at reducing human interaction and its attendant bias in the payment processes in the Nigerian Electricity Supply Industry.
“We Congratulate the Operators of the Nigerian Electricity Supply Industry for a job well done.
“You have done a great job in taking the sector to a whole new level by the development and deployment of the NIBSS-Power Collect system,’’ the minister said.
Nebo urged stakeholders in the power supply chain to key into the system to ensure adequate data capture and transparency in payment system.
He said such stakeholders include the Generating Companies, the Transmission Company and the Distribution Companies.
“We welcome this fresh initiative and we are fully backing the MO to make a success.
“ We would like to seek the indulgence of all market participants to cooperate with the MO and comply with all the rules and requirements necessary for the success of this project,’’ he said.
Earlier, the Executive Director, Market Operator, Mrs Ngozi Osuhor, said the platform is a globally accepted solution tailored for the Nigerian market with its specific peculiarities and challenges.
She described the solution as automated revenue lifecycle management system that will enable the market operator and all the players in the electricity value chain ensure equitable revenue collection and splitting.
She explained that it would also give the market operators the tools it required for market price stability.
Osuhor said that it would also help Nigerian Electricity Regulator Commission (NERC) the tools it requires for effective regulation of the sector.
“The NIBSS-Power Collect has three major components to it, the data capture and reconciliation system, the e-invoicing and billing system, and payment settlement system which leverages on the NIBSS Direct Debit Workflow,’’ she said.
Mrs Ehinomen Oni, the Assitant General Manager, Market Operator, explained that the platform acts as the treasury bills of the industry.
She also said that the whole solution was to ensure that human interaction was reduced to the barest minimum.
“The market operator is the treasury bills of the industry and the market administrator.
“We are those in charge of determining what every player get based on energy they generate and receive based on what they collect.
“So, this platform is an automated form of managing that process; because money is involved we want to minimise the human interaction to ensure that everyone in the market is satisfied and pleased with the process,” she said [NAN]