Privatization not the answer to power problems – SSAEAC

Sep 11, 2013

Even after the near successful privatization of Nigeria’s power sector, the Senior Staff Association of Electricity and Allied Companies, SSAEAC, has maintained that privatization is not the answer to the nation’s power problems. The position of SSAEAC was made known by its President-General, Mr. Bede Opara, who said that the association based its position on…

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FG to finally liquidate PHCN with imminent declaration of TEM

Sep 11, 2013

The federal government has said its final liquidation of the Power Holding Company of Nigeria (PHCN) will be achieved with its imminent declaration of the Transitional Electricity Market (TEM) in the next couple of weeks. It said PHCN has functionally seized to exist, following the privatisation of its successor generation and distribution companies, but will…

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NERC tasks distributors on metering scheme

Sep 10, 2013

The Nigerian Electricity Regulatory Commission (NERC) has charged new owners of Distribution companies (Discos) to adopt the existing metering scheme or provide a better alternative. Chairman/CEO of the commission, Dr Sam Amadi said this at the weekend during a meeting with a team from the Bureau of Public Enterprises (BPE) led by its Director General,…

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FG to checkmate technical incompetence in power sector

Sep 10, 2013

The federal government has set up a complementary technical framework to gauge and ascertain the level of compliance by participants to technical requirements in their operations within the Nigeria Electricity Supply Industry (NESI). The new hybrid framework, Electricity Management Services Company (EMS) is expected to complement the regulatory role played by the Nigerian Electricity Regulatory…

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BPE, NERC meet on handover of privatised PHCN successor companies

Sep 10, 2013

The Nigerian Electricity Regulatory Commission (NERC) has met with the Bureau of Public Enterprises (BPE) to establish modalities for a seamless handover of the privatised electricity generation and distribution companies carved out from the unbundling of Power Holding Company of Nigeria (PHCN). The Chairman of NERC, Dr. Sam Amadi and Director of BPE, Mr. Benjamin…

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Final decision on Enugu DISCO expected this week

Sep 9, 2013

As tempers rise over the controversial sale of the Enugu Distribution Company, indications emerged at the weekend that the Federal Government may have bowed to pressures to clear the way for a meeting of the Technical Committee of the National Council on Privatisation (NCP) to take a final decision to resolve the impasse. THISDAY’s checks…

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Zungeru hydro among world’s most expensive

Sep 9, 2013

The Federal Government is spending N303 million on generation of each megawatt of electricity through the Zungeru hydro project, which is relatively more expensive than what obtains in Africa’s and world’s biggest hydro-power projects, according to a Daily Trust investigation. The Zungeru project in Niger State, meant to generate 700 megawatts, will gulp $1.3 billion…

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FG to hold bidders’ conference on sale of 10 power plants

Sep 9, 2013

Indications have emerged that the federal government will later this month hold a bidders’ conference on the 10 power stations built under the National Integrated Power Project (NIPP) that are undergoing privatisation, THISDAY has gathered. The bidders for these assets, according to a source close to the Niger Delta Power Holding Company (NDPHC), will submit…

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PHCN workers vow to resist power firms’ handover

Sep 9, 2013

Employees of the Power Holding Company of Nigeria have vowed to resist the takeover of the electricity distribution and generation companies by the successful buyers until all outstanding payments are made. The workers’ position contradicts the recent pronouncement by the Federal Government that the successful bidders who met the deadline for the payment of the…

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Interstate Electrics completes payment for Enugu DISCO

Sep 9, 2013

Interstate Electrics (IE), which won the bid for the Enugu Electricity Distribution Company, DISCo, is said to have completed the payment of the 75 percent balance for the electricity firm. A top official at the Bureau of Public Entreprises, BPE, told  Vanguard Friday that the consortium paid the sum of $94,505million or about N148.373 million…

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