He told The Nation that the body wanted to watch the situation as it unfolds before passing judgment on issues relating to the sector reforms.
He said: ‘’As regard the issue of privatisation of the Power Holding Company of Nigeria (PHCN), it is a good development in the history of Nigeria’s energy sector. The idea is aimed at repositioning the sector for growth, and further prepare it to compete with others in the emerging economies.
“Though we believe that the National Electricity Regulatory Commission (NERC) is competent to regulate the sector and further make it work, we are still studying the situation. We want to see how the whole thing will play out before stating our position on the matter.’’
Odiah further said the country was grouped into eight industrial clusters, out of which three were picked for citing of power plants after a careful appraisal of the developments in the country.
He added the three clusters located in Ota/Abeokuta area of Ogun State have functional power plants generating about 550 mega watts in three of its eight delineated industrial clusters.
Odiah said the Ota/Abeokuta axis was chosen because of its relatively huge concentration of industries.
‘’We were looking at areas with high concentration of industries and after necessary investigations, we arrived at a decision to choose Ota/ Abeokuta area. Besides, we discovered that the cost implication of having power plants is the area was not much, when compared with others. In the three industrial clusters located in the Ota/Abeokuta axis, we have three power plants with an output of 550 mega watts,” he added.
The Federal Government has fixed next year for the privatisation of the National Independent Power Projects (NIPP). It is aimed at increasing electricity supply.