Power

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…

Read More

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…

Read More

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…

Read More

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…

Read More

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…

Read More

over 50% electricity consumers have no meters – Minister

Oct 10, 2013

Minister of Power Prof Chinedu Nebo yesterday lamented that over 50 per cent of electricity consumers have no meters. He said with this development, would-be investors in a privatised electricity market might find it difficult to recoup their money. Speaking when he received a Brazilian delegation led by Vice-Minister of Development, Industry and International Trade…

Read More

Govt mulls new lending rate regime for power sector’s investors

Oct 10, 2013

Federal Government has set up a committee to review the lending regime in the country in an effort to ensure that the new investors in the power sector secure working capital at reasonable interest rates. The Permanent Secretary, Federal Ministry of Power, Dr. Godknows Igali, made this disclosure at the office of the Chairman of…

Read More

Electricity reforms: Govt turns to Brazil for capacity upgrade

Oct 10, 2013

The federal government has indicated its willingness to tap into the expertise developed by Brazil in increasing its electricity generation and distribution capacity to ensure that its reforms of Nigeria’s power sector becomes beneficial to all her nationals. The Minister of Power, Prof. Chinedu Nebo, told a Brazilian delegation led by the country’s Vice-Minister of…

Read More

Banks cannot fund $8bn Nigeria annual power needs – FBN Capital

Oct 9, 2013

Patrick Mgbenwelu, Director and Head, Project and Structured Finance, FBN Capital Limited stated in Lagos at the 1st FBN Capital Project and Infrastructure Finance Conference that Nigerian banks would need the support of institutional and foreign investors to fund the huge resources needed to drive various ongoing infrastructure projects, particularly the estimated $8 billion required…

Read More

FG moves to tackle electricity meter extortion

Oct 9, 2013

The Federal Government has intensified efforts to check extortion associated with sourcing electricity meters in the nation. The moves presently made through the Nigerian Electricity Regulatory Commission, NERC would involve effective monitoring to ensure the Electricity Distribution Companies, DISCOs do not exploit consumers in all parts of the nation. A top official of the Commission…

Read More

SUBSCRIBE TO LATEST ENERGY NEWS

Read the latest energy industry news and researched articles
for oil and gas, power generation, renewable energy, events and more...