Power

Manitoba to take over TCN

Oct 14, 2013

The Federal Government is putting in place measures to ensure that Manitoba Hydro International of Canada takes control of the Transmission Company of Nigeria (TCN), the Secretary, National Electricity Regulatory Commission (NERC), Ada Ozemean, has said. She told The Nation that the development was informed by the need to limit the government’s control of TCN and make…

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Power supply, key to GDP growth, says Nebo

Oct 14, 2013

The Minister of Power, Professor Chinedu Nebo, has said adequate availability of electricity supply will significantly reduce the operational cost for industries and increase the Gross Domestic Product (GDP). The minister, who spoke at the opening session of a two day public hearing and workshop on the regulation of the electricity market post-privatization held in…

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US firm to finance 350MW Gurara Hydro Dam in Niger

Oct 14, 2013

A United States-based company, Transatlantic Investment and Development Company (TIDC), at the weekend said it had concluded arrangements to finance the construction of the Gurara multipurpose dam project also known as Gurara II in Niger State. TIDC stated this through its legal adviser, Mr. Bem Atetan, in Abuja that the project financing commitment was a…

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Issue meters to all consumers, FG orders Discos

Oct 14, 2013

The Federal Government has directed new owners of power distribution firms to provide all electricity consumers with meters as soon as they take over the successor companies of the Power Holding Company of Nigeria. It advised that the new power firms should accord priority to the metering of their customers nationwide. The Chairman, Nigerian Electricity…

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NERC needs to help, support power investors – Expert

Oct 11, 2013

The National Electricity Regulatory Commission (NERC) has been implored to assist the Power Holding Company of Nigeria (PHCN) successor-companies to realise the objectives of the privatisation. The Manager, Consultancy Services, Nigerian Society of Engineers, Dayo Olugboye gave the advice during a workshop for journalists on reporting contract monitoring processes organised by Media Rights Agenda in Lagos.…

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Lagos, Oando complete N3.2b power plant

Oct 11, 2013

Oando Gas and Power (OGP), a subsidiary of Oando Plc and the Lagos State Government have completed the construction of a N3.2 billion Independent Power Project (IPP) in Alausa, Ikeja area of Lagos State. The project, which is a 10.34Mega Watt dual fired power plant has already been slated for commissioning on Thursday in a…

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Electricity operators can’t write rules for us – NERC

Oct 11, 2013

The chairman Nigerian Electricity Regulatory Commission (NERC), Dr. Sam Amadi, yesterday told the new owners of the Power Holding Company of Nigeria (PHCN) that the obligation to write rules for the electricity industry is that of the commission, not the operators’. In his opening remarks at the two-day workshop with the buyers of the PHCN…

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PHCN firms’ owners grumble

Oct 11, 2013

New owners of the Electricity Generation Companies (GENCOs) are threatening a legal action against the Nigeria Electricity Regulatory Commission (NERC). They are not happy over the draft of interim rules and other regulatory issues that, in their view, seek to reduce the revenue of the companies instead of the provisions of the Multi-Year Tariff Order…

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PHCN: New owners to takeover on November 1

Oct 11, 2013

The Bureau of Public Enterprises (BPE) yesterday said new owners of successor generation and distribution companies of the privatised Power Holding Company of Nigeria (PHCN) would now take over operations of their respective assets on November 1, this year. This is just as the Nigerian Electricity Regulatory Commission (NERC) also told the new investors in…

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Privatisation: ‘PHCN workforce would benefit from new private firms’

Oct 10, 2013

As new core investors in power companies commence operations, the Ministry of Power has said that staff of the defunct Power Holding Company of Nigeria (PHCN) would greatly benefit from the private firms. The Special Assistant to the Minister of Power, Prof Chinedu Nebo on Communications, Kande Daniel disclosed this yesterday in a statement. Kande…

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