Reporting Regulatory Matters and Tariffs Specialist at Ikeja Electricity Distribution Company (IKEDC)

Ikeja Electricity Distribution Company (IKEDC) - Buoyed by a mission to redefine customer experience and be the provider of choice wherever energy is consumed, the Ikeja Electric (IE), Nigeria's largest power distribution network, came into existence on November 1st, 2013 following the handover of the defunct Power Holding Company Of Nigeria (PHCN) to NEDC/ KEPCO Consortium under the privatization scheme of the Federal Government of Nigeria.

We are recruiting to fill the position below:

Job Title: Reporting Regulatory Matters and Tariffs Specialist

Location: Lagos
Job Type: Full time
Reporting To: Head Management Reporting and Tariffs

Role Purpose

• This role is responsible for Supporting the Head Management Accounting and Tariff in the implementation and compliance with Regulatory Reporting, Rates and Tariffs matters.

Responsibilities
Rates and Tariffs:

• Develop an abridged spreadsheet model (Excel) for IE based on the revised MYTO from NERC.
• Check and simulate implication of computational errors and or inconsistencies in MYTO model published by the NERC and prepare written responses to NERC on the errors, inconsistencies identified.
• Expand the MYTO model from its current annual configuration to a monthly basis and expand the factors on which a true-up adjustment can be based to reflect the additional factors such as ATC&C losses and load distribution etc (by tariff category).
• Use different assumptions to simulate possible tariff paths that would ensure the company’s revenue target is met within the tariff methodology as determined by NERC from time to time.
• Determine an appropriate tariff design and structure for all approved tariff classes in line with business objectives as well as regulator’s tariff methodology and submit same to NERC.
• Develop and advice on appropriate tariffs for special business partnerships.

Regulatory Matters:

• Complete and maintain information for all governmental, industry, regulatory and other adhoc filings.
• Drive IE’s compliance with the industry’s market settlement guidelines.
• Review the monthly day ahead reconciliation reports from load management and Power allocation teams for compliance with market rules and analyse financial implications of allocated deficits.
• Liaise with Market Operators and NBET, via the Regulatory unit, on invoice issuance, review and analysis.

Others:

• Develop five-year tariff plans on base case forecasts and worst-case scenarios using macro and minor review variables as well as other relevant market fundamentals.
• Support the internal stakeholders to review business, departmental performance and develop business plans and forecasts over a 1-year budget horizon and strategic 5-year business plan horizon and identifying the impact on regulatory expectations.
• Identifying, evaluating, managing and reporting on all related risks.
• Undertaking other relevant project work when required.
• Comply with Quality Management System / Occupational Health & Safety requirements including objectives and applicable regulations relating to assigned jobs.
• Perform other duties and tasks as required and assigned.

Minimum Qualifications

• This role requires a Bachelor’s Degree in Accounting or a Finance-related field, Commercial or Social Science discipline.
• Minimum of 3 years relevant work experience.
• Relevant professional qualification (ACA/ACCA) will be required.

Technical Competencies:

• Financial Modelling
• Planning, Budgeting, and Forecasting
• Accounting Policies and Processes
• Regulatory Reporting
• Financial Analysis and Planning
• Financial Statement Preparation and Analysis

Behavioral Competencies:

• Communication and Interpersonal Relations
• Supervisory/Managerial Skills
• Problem Solving and Decision Making
• Managing Resources
• Business Focus

Application Closing Date
3rd July, 2022.