Managing Director/Chief Executive Officer of the Transmission Company of Nigeria (TCN), Engr. Sule Abdulaziz gave the charge during the 6th edition of the International Power Engineering Exhibition And Conference (IPECON), which held recently at the University of Benin, Edo State.
Abdulaziz who was represented in the event by the General Manager, Transmission, Benin Region, Engr. I.C Okpe stated that the true potentials of the sector can only be realised by
fostering collaboration, knowledge sharing, and the exchange of ideas.
He said that the team of the programme, "Electric Power Sector Reform: Practice, Market, and Political Nexus", was timely as it'll afford key players the opportunity to discuss the intricate web that connects the practical implementation of power sector reforms, the dynamics of the market, and the political considerations that shape its trajectory.
The TCN Boss said that "as we embark on this journey of exploration, let us acknowledge the significance of the electric power sector in driving economic growth, improving livelihoods, and enhancing the overall quality of life for communities around the globe. It is the cornerstone of modern society, powering industries, homes, and vital infrastructure. However, the true potential of the power sector can only be realized through effective reforms that address its inherent challenges and foster sustainable development".
Continuing, he maintained that, "electric power sector reforms are not isolated endeavors; they exist at the nexus of practice, market dynamics, and political considerations. The success of these reforms hinges on striking a delicate balance between these interconnected elements. It requires the collaboration of practitioners, industry experts, policymakers, and stakeholders at every level"
He noted that "practice of power engineering is at the forefront of transforming concepts into tangible solutions. It is through the application of cutting-edge technologies, innovative approaches, and engineering expertise that we can overcome the challenges faced by the power sector. Whether it is optimizing generation and transmission systems, integrating renewable energy sources, enhancing grid reliability and resilience, or promoting energy efficiency, power engineers play a pivotal role in shaping the future of the sector".
On the importance of market dynamics in the sector, he averred that "the power sector is a complex ecosystem driven by supply and demand forces, regulatory frameworks, investment patterns, and consumer behaviour. By studying and adapting to these market dynamics, we can create an environment that fosters healthy competition, attracts investments, encourages innovation, and ensures affordable and reliable access to electricity for all".
While asserting that power sector does not operate in a vacuum, he opined that "it is intrinsically linked to the political landscape. Political considerations influence policy formulation, regulatory frameworks, and decision-making processes. Recognizing and addressing the political dimensions of power sector reform is essential for its long-term sustainability. We must ensure that reforms are guided by the principles of good governance, transparency, accountability, and social inclusivity, enabling equitable access to electricity and fostering public trust in the sector".
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