Energy Business Digest
NERC To Invest N5b on Computer System to Monitor Power Operations Nationwide
The Nigerian Electricity Regulatory Commission (NERC) says it will invest over N5billion in technology to boost power operations monitoring as well as enhance service delivery to consumers. Sanusi Garba, chairman, NERC, stated this on Monday during a session with the house of representatives committee on finance on the 2023-2025 medium-term expenditure frame and fiscal strategy […]
“Take Over Can’t Happen” – Benin DisCo, Set to Resist Sack of Board & Management
The management of Benin Electricity Distribution Company, BEDC, has described the reported sack of her Board and Management by the Bureau of Public Enterprises (BPE) and Nigeria Electricity Regulatory Commission (NERC) following Fidelity Bank recall of facility as unlawful, illegal and of no basis. According to the release by BEDC Management posted on its Twitter […]
Fidelity Bank Takes Over Boards of 3 DisCos, Works With FG on New Management Structure
The boards and executive managements of three electricity distribution companies, DisCos have been replaced by the major lenders, Fidelity Bank and AFREXIM, following the formal recall of the collateralized facilities the banks issued for the purchase of the power assets. It is believed that the lenders recalled the facilities as the core power investors have […]
FEC Approves N8.64bn to Fund 1st Phase Siemens Power Deal
The Federal Executive Council (FEC) has ratified President Muhammadu Buhari’s anticipatory approval for the release of N8,648,081,465 to fund phase one of the Nigeria-Germany electricity deal. The fund, which is an offshore loan facility of €15.21 million, an equivalent of N6,940,081,465.20, and N1.708 billion onshore fund, is the counterpart funding of the first phase of […]
Stop asking customers to pay for network infrastructure – NERC
The electricity sector regulator, NERC, has news for the electricity distribution companies; they should stop asking customers to pay for replacement and installation of network infrastructure such as faulty transformers, substation materials or lines, etc. According to a release published on the website of the industry regulator, the only scenario where the customer is to […]
Speaker Femi Gbajabiamila wades into Electricity Tariff Increase controversy
The Honourable Speaker of the House of Representatives, Mr Femi Gbajabiamila has spoken his mind on the current controversy of electricity tariff increase recently announced by the power industry regulator. For the Speaker, he would want the National Assembly to support the increase in electricity tariffs, making it cost reflective so that it would be […]
More Problems for the DisCos as NERC Issues Intention to Cancel Licences of 8 DisCos
The times are really not good for the electricity distribution companies, DisCos, in Nigeria. They have been receiving bashing from the Transmission Company of Nigeria for rejecting huge amount of electricity generated by the GenCos and transported to load centers. Only a few months ago, the Electricity Market Operator descended on several DisCos for not […]
NERC Introduces Payment Plan for Electricity Meters
Relief has come the way of some electricity customers in Nigeria as the Nigerian Electricity Regulatory Commission (NERC) has approved a payment plan for electricity customers who so desire to get prepaid meters and pay later. The cheering news was disclosed by Mr Nathan Shatti, NERC’s commissioner for finance and management services at a press […]
TCN calls out DisCos for losing 5 power transformers worth N3.6bn
Imagine Transmission Company of Nigeria, TCN, losing five power transformers worth N3.615 billion due to poor protection systems on the networks of the Distribution Companies (DisCos). This actually happened in TCN Transmission Substations in Abuja in Abuja Region, Benin in Benin Region as well as Onitsha in Enugu Region. That was the submission of the […]
Power Industry Regulator Absolves NBET MD of Alleged 2B Over-Invoicing
The Nigerian Electricity Regulatory Commission, NERC, has fully absolved the MD of the Nigerian Bulk Electricity Trader, NBET, Dr Marilyn Amobi of the alleged 2b over payments to two generating companies made against her by two of her subordinates. The regulatory commission on receipt of the petition set up an investigative panel with heard from […]