Power

FG suspends implementation of TEM indefinitely – To sell stake in power assets via IPO in 2017

Mar 18, 2014

The Federal Government, yesterday, gave indications that it has suspended the planned implementation of the Transitional Electricity Market, TEM, indefinitelyas it disclosed that it is not concerned about the declaration of TEM, but is instead bothered about putting the right market conditions in place for the sector to thrive. The Federal Government also disclosed that…

Read More

Gas shortage, pipeline vandalism cripple power generation

Mar 18, 2014

The Minister of Power, Prof. Chinedu Nebo, yesterday in Abuja, said the drop in power generation was caused by gas shortage due to vandalism of gas pipelines. Nebo, who spoke during a power public forum, he said: “We still face many challenges, gas supply is a very serious one and the current difficulty we have in generation…

Read More

Privatisation: Court restrains BPE from sale of power stations

Mar 18, 2014

A Federal High Court in Abuja yesterday restrained the Bureau of Public Enterprises (BPE) from further proceeding with privatising three major power stations. They are Aloaji, Omoku and Gbarain power stations. The BPE had slated the bidding process for the stations’ sale on March 7, 2014. Justice Abdulkadir Abdulkafarati’s order followed an application by lawyer to…

Read More

Disengaged PHCN workers protest non-payment of entitlements

Mar 18, 2014

One hundred and thirteen disengaged staff of Ikeja Distribution Company, IKEDC, formerly under Power Holding Company Nigeria, PHCN, yesterday, protested non-payment of their entitlements, pleading with President Goodluck Jonathan to come to their aid in ensuring they were paid. The disengaged staff, who took their protest to the Ikeja headquarter office of the company, said…

Read More

Tough times await buyers of PHCN assets

Mar 18, 2014

Buyers of the assets of the defunct Power Holding Company of Nigeria’s, (PHCN) are in for tough times in the days ahead. A former Chief Executive Officer, Nigerian Electricity Regulatory Commission, NERC, Mr. Ransome Owan, disclosed that the assets are problematic, while a faulty valuation system was used in the sales process. Owan, who disclosed…

Read More

BPE justifies government’s retention of transmission network

Mar 18, 2014

The Bureau of Public Enterprises (BPE) yesterday said the federal government’s decision to hold on to the transmission component of the Nigeria Electricity Supply Industry (NESI) was in good faith. This is just as the Minister of Power, Prof. Chinedu Nebo, called on the existing operators in the power sector, notably the new owners of…

Read More

Ikeja DISCO to invest N9.66b yearly on power infrastructure

Mar 17, 2014

The Ikeja Electricity Distribution Company (IKEDC) would require an average yearly investment of $58.737 million (about N9.66billion) for five years to improve power supply. This requirement makes the firm to top the list of the 11 distribution firms’ investment. The distribution firms had a deal with the government through the regulator, the Nigerian Electricity Regulatory Commission…

Read More

NERC warns Abuja Disco against poor services

Mar 17, 2014

The Nigerian Electricity Regulatory Commission (NERC) has written the management of the Abuja Distribution Company (Abuja Disco) directing it to deliver on commitment based on contractual agreements. The commission in a letter March 11, 2014, with reference number NERC/01/CH/SEC/387 and entitled: “It has been 3 months… Time to deliver on commitment,” which was made available…

Read More

Poor electricity, tariff: UN queries FG

Mar 17, 2014

Two United Nations special rapporteurs have queried the government of President Goodluck Jonathan “over the impact of the Multi-Year Tariff Order II (MYTO II) and its potential detrimental impact on the realisation of human rights of people living in extreme poverty in Nigeria.” The rapporteurs are: Ms. Magdalena Sepúlveda Carmona, Special Rapporteur on Extreme Poverty…

Read More

N25.3bn debt worries Benin Electricity Distribution Company

Mar 17, 2014

The Benin Electricity Distribution Company (BEDC) has expressed worry over the N25.3 billion electricity bills it inherited from the defunct Power Holding Company of Nigeria (PHCH) last November. The amount which also include contestable estimated bills, was part of the company asset and liabilities across Ondo, Ekiti, Delta and Edo States that make up the…

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...