Power

World Bank pledges $1.4m for Nigeria’s power, infrastructure

Oct 15, 2013

The World Bank has pledged to support Nigeria’s power sector and infrastructure development with about $1.4m, the Minister of Finance, Dr. Ngozi Okonjo-Iweala, announced in Washington DC, United States of America. The minister said this when she briefed newsmen on Nigeria’s delegation meeting with the bank at the Annual meeting of the World Bank and…

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FG to realise $3bn from PHCN’s sale – BPE

Oct 15, 2013

Over $3bn is expected from the sale of 17 successor companies carved out from the Power Holding Company of Nigeria, Director General of the Bureau of Public Enterprises, Mr. Benjamin Dikki, has said. Dikki said this at an investors’ forum in New York, according to a statement made available to our correspondent by the Head…

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Consumers berate PHCN over pre-paid meters

Oct 15, 2013

Some industrialists in Lagos have criticised the Power Holding Company of Nigeria, PHCN, for failure to supply them pre-paid meters after they had applied for the meters some years ago. They alleged that some PHCN officials told them that their electricity consumption would still be based on estimation. Some of the industrial customers told Vanguard…

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FG begins full payment to 38,000 PHCN workers

Oct 15, 2013

The full payment of entitlements to 38,000 workers of the Power Holding Company of Nigeria, PHCN, has commenced. The Director General the Bureau of Public Enterprise, BPE, Mr. Benjamin Ezra Dikki, disclosed this during the visit of the House of Representatives Committee on Privatisation and Commercialisation to the agency. Dikki explained that some 6,700 staff…

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Avoiding regulatory capture in Nigeria’s electricity market

Oct 15, 2013

Recent revelations that the investors who have acquired the assets of the Power Holding Company of Nigeria (PHCN) have begun lobbying for another increase in electricity tariffs, has underscored the need for the Nigerian Electricity Regulatory Commission (NERC) to demonstrate enough capacity to find a balance between the expectations of operators and consumers, Ejiofor Alike…

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NERC insists on coordinated handover process

Oct 15, 2013

The Nigerian Electricity Regulatory Commission (NERC) has asked new owners of privatised Power Holding Company of Nigeria (PHCN) to exercise some restraint in their fervent demand to be handed over their acquired power utilities. Chairman of NERC, Dr. Sam Amadi, disclosed to the investors in Abuja that there was more to the process of handing…

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NBET seeks preservation of capitalisation fund for TEM and beyond

Oct 15, 2013

The Nigeria Bulk Electricity Trading Plc (NBET) has expressed its preference for a preservation of its capitalisation funds for the final commencement of the Transition Electricity Market (TEM) as well as its further expansion in the emerging Nigerian Electricity Supply Industry (NESI). Managing Director of NBET, Rumundaka Wonodi, who made a presentation at the recent…

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New power assets owners propose improved revenue in interim market

Oct 15, 2013

The new investors of successor distribution companies created from the unbundling of the Power Holding Company of Nigeria (PHCN) have picked holes in the proposed “allowable revenue” to be adopted in the interim electricity market by the Nigeria Electricity Regulatory Commission (NERC). Four of the successor PHCN distribution companies that collectively made a presentation in…

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Enphase Energy announces Clinton Global Initiative for Nigerian microgrid project

Oct 14, 2013

Enphase Energy, Inc. (NASDAQ: ENPH), announced recently its Clinton Global Initiative (CGI) Commitment to Action. Enphase has partnered with Beacon Power Services to provide a clean and reliable energy alternative in Abuja, Nigeria, through piloting an innovative solar energy microgrid system. “Enphase is proud to have created a Clinton Global Initiative commitment to help address…

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ALSCON wants FG to evacuate excess electricity

Oct 14, 2013

The Management of Aluminium Smelter Company  of Nigeria (ALSCON) at Ikot Abasi in Akwa Ibom  state has pleaded with the Federal Government to   link its  internally generated gas fired electric power plant to the national grid as it could serve as an important backup of electricity supply  to the smelter in the event of  gas…

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