Power

Power distribution firms lack funds – NERC

Feb 25, 2014

The poor state of power supply across the country has been linked to the serious financial challenges facing investors who bought into the nation’s electricity distribution companies. According to the Federal Government, the Discos lack the financial muscle that will ensure efficient distribution of the generated electricity. The Chairman/Chief Executive Officer, Nigerian Electricity Regulatory Commission,…

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BPE inaugurates Transition Committees for Kaduna Disco, Afam power station

Feb 25, 2014

The Director General, Bureau of Public Enterprises (BPE), Mr. Benjamin Dikki, Monday inaugurated the Transitional Committees (TCs) for both Afam Power Plc and Kaduna Electricity Distribution Company (KEDC), the new owners of the power utilities. But he however, cautioned both core investors not to meddle in the affairs of the companies since the assets are…

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How effective is regulatory intervention in post-privatised PHCN?

Feb 24, 2014

The physical hand over of Power Holding Company of Nigeria (PHCN) to new owners in November 2013 marked a turning point in Nigeria’s power sector. It was a culmination of 14 years of effort to reform and liberalise electricity. The onus of regulation now lies with the Nigerian Electricity Regulatory Commission (NERC) to propel the…

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At last, core investor acquires Sapele Power

Feb 24, 2014

Six months after failing to meet the deadline, CMEC/Eurafric Energy Limited has completed the acquisition of majority equity in Sapele Power Plc. The Bureau of Public Enterprises disclosed this in a statement made available to our correspondent in Abuja on Sunday by its Head of Public Communications, Mr. Chigbo Anichebe. Consequently, the privatisation agency said…

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Ecobank Nigeria pledges sustained power sector financing

Feb 24, 2014

Ecobank Nigeria has projected power sector funding of about $5 billion per annum over the next five years. This according to the bank is in line with its policy to support the growth and development of the Nigerian power sector. A statement at the weekend explained that Ecobank played a major role on the buy-side…

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Ibadan Disco to stop estimated billing

Feb 21, 2014

The Ibadan Electricity Distribution Company has assured the people of Ogun, Oyo, Osun, Kwara and parts of Ekiti, Kogi and Niger states that it will soon eradicate the practice of estimated billing and energy theft with its robust metering system. The Principal Manager, Public Affairs, IBEDC Mr. Tokunbo Peters, in a statement on Thursday, reiterated…

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Discos consider embedded generation to improve supply

Feb 20, 2014

The Chairman, Nigerian Electricity Regularity Commission (NERC), Dr. Sam Amadi has said the new owners of electricity Distribution Companies (Discos) have considered applying embedded generation to cut dependency on the Bulk Trader to procure generated electricity. Amadi made the disclosure recently while receiving a delegation of energy experts from the United States Department of State…

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Ikeja Disco partners security agencies to curb vandalism

Feb 20, 2014

The Ikeja Electricity Distribution Company (IKEDC) has secured the support of security agencies in its quest to stem the rising tide of vandalism of its equipment and installations across the state. During a courtesy visits to the Director of Security Services and the Commissioner of Police, Lagos State Command by the top officials of IKEDC,…

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Power: Peak generation to hit 9000MW by Dec – FG

Feb 19, 2014

The Permanent Secretary in the Ministry of Power, Amb. Godknows Igali, has said power generation is expected to peak at 9000mw by December 2014 with more capacities from the 10 power stations under the National Integrated Power Projects (NIPPs). Igali made this disclosure yesterday, at the ministry’s headquarters during a presentation to the peer review…

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Domestic electricity generation still below 4000mw –Report

Feb 19, 2014

Following repairs of vandalised pipelines especially along the Escravos-Western axis and subsequent return of gas supply to electricity Generation companies (Gencos), total power generation available for domestic consumption is yet to hit 4,000 megawatts , reports disclosed. Statistics from the electricity National Control Centre (NCC), in Osogbo, Osun state made available at the weekend revealed…

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