Power

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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Power: ALSCON to inject 360MW into national grid

Oct 4, 2013

In order to boost electricity supply in the country, the current operator of the nation’s premier Aluminum Smelter Company of Nigeria (ALSCON), in Ikot Abasi, Akwa Ibom State, UC RUSAL, has affirmed its readiness to inject approximately 360 mega watt annually to the national grid. However, the Director, Public and Government Relations Department of ALSCON,…

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FG to sell 10 National Integrated Power Plants – Jonathan

Oct 4, 2013

President Goodluck Jonathan on Thursday said that all the 10 National Integrated Power Plants (NIPPs), being built by the Federal Government, would be sold to private investors. The president said this at Geregu in Kogi, during the formal inauguration of the Phase 2 Geregu 434 megawatts power plants.He said that by 2014, all the 10…

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Huge investment opportunity exists in Nigeria’s power sector – Experts

Oct 4, 2013

Mrs Anita Mathews, Director,Informa Energy Group, a Dubai-based organisation, says there is huge opportunity for investment in Nigeria’s power sector. Mathews made the observation in  Lagos  in an interview with the News Agency of Nigeria (NAN) on the sideline of an exhibition tagged: ‘Power Nigeria’  organised by the group. According to her, the huge demand…

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‘Govt showed no regard for judicial process’ – Eastern Electrics

Oct 3, 2013

Reactions have continued to trail government’s handover of state-owned power utilities to private buyers with latest reaction coming from Eastern Electrics, reserved buyer for the contentious Enugu Disco. The firm said it had expected the authorities to display greater regard for judicial process. Communications Consultant for Eastern Electrics Mr. Don C. Adinuba in an interview…

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New power firm owners get 5,000MW target in 5yrs

Oct 3, 2013

The new owners of the privatised companies from the unbundled Power Holding Company of Nigeria (PHCN) have been given a target to ensure increased generation of an additional 5,000MW within the next five years. Speaking during the formal handover of share certificates and licences to the new core owners of the PHCN successor companies, at…

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