Power

IFC to support local meters’ manufacturers

Oct 7, 2013

The International Finance Corporation (IFC), a member of the World Bank Group, will support local manufacturers of meters with funds to encourage their growth, the Country Manager, Nigeria Africa Department, IFC, Solomon Adegbie-Quaynor, has said. He told The Nation that Nigeria is battling shortage of meters because production of the product is inadequate, adding that the…

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Gas distribution firms, Gencos in talks

Oct 7, 2013

Following the privatisation of the power sector, natural gas distribution companies are discussing with power equipment manufacturers for the manufacture of small power generating plants that run on gas for captive power supply to the electricity distribution companies now owned by new investors. The Managing Director of Falcon Petroleum, Prof Joseph Ezeigbo, told The Nation that…

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New owners won’t take over DISCOs till next year –Investigation

Oct 7, 2013

There are indications that the physical takeover of the electricity distribution companies, DISCOs, by their new owners may be extended till January 2014 following the hiccups posed by the labour related issues in the privatisation of Power Holding Company of Nigeria, PHCN. President Goodluck Jonathan had last Monday handed over the certificates and operating licences…

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Govt to pay off PHCN workers this month

Oct 7, 2013

Minister of Power Prof. Chinedu Nebo, said yesterday that the Federal Government would complete the payment of severance allowance of Power Holding Company of Nigeria (PHCN) workers before the end of this month. Nebo spoke at the thanksgiving service of Nsukka Anglican Diocese marking the end of its 2013 Synod in Nsukka. He said that…

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Electricity consumers should not expect improvements soon —NERC

Oct 7, 2013

Electricity consumers in the country should not expect a rapid improvement in power supply any time soon despite the privatisation of the sector, the Nigerian Electricity Regulatory Commission has said. The commission made it clear that the distribution of meters to consumers as well as the improvement of technical issues in the power business would…

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Electricity cartel: NERC to proscribe ‘Disco roundtable,’ others

Oct 7, 2013

The Nigerian Electricity Regulatory Commission (NERC) has said it would only encourage healthy market competition but not tolerate unwholesome cartel practices in the emerging Nigerian electricity market. NERC disclosed this in Abuja, at the weekend, that it would outlaw the newly found union of investors who bought successor distribution companies created from the unbundling of…

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New owners of Nigeria’s electricity companies can abandon unwanted projects – Official

Oct 6, 2013

The private owners of Nigeria’s electricity companies would not inherit unwanted liabilities, Beks Dagogo-Jacks, the Chairman of the Presidential Task Force on Power, said, at the inaugural Nigeria Power Investors Summit which began in Lagos on Monday. Mr. Dagogo-Jacks said for power projects already in the pipeline, the new investors would perform due diligence and…

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Severance pay: PHCN workers give Fed Govt two weeks ultimatum

Oct 4, 2013

Workers of the Power Holding Company of Nigeria (PHCN), acting under the aegis of the National Electricity Employees (NUEE), yesterday handed over a two-week ultimatum to the Federal Government to complete the payment of the severance benefits of its members. General Secretary of the union, Comrade Joe Ajaero who made this known in Abuja blamed…

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Jonathan inaugurates 434MW Geregu power plant

Oct 4, 2013

President Goodluck Jonathan on Thursday signalled the intention of the Federal Government to provide uninterrupted power supply across the nation as he inaugurated the Geregu II gas power plant. The Geregu II plant, with capacity to provide 434 megawatts of electricity, is one of the 10 National Integrated Power Project plants that are scheduled to…

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Nigeria fails global energy equity test – WEC

Oct 4, 2013

The World Energy Council has said Nigeria has not performed well in the global energy equity ranking. This is according to the WEC’s 2013 Energy Sustainability Index, a global ranking of 129 countries based on their performances on the three aspects of the energy trilemma. The index ranks countries in terms of their likely ability…

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