The Transmission Company of Nigeria (TCN) says it has realigned the regional offices of the Independent System Operator (ISO), which is one of its business units. This was announced in a memo dated May 10, 2018, signed by the Managing Director/CEO, Mr Usman Gur Mohammed, to all Heads of Divisions and Departments. TCN in the…
The total volume of unused electricity from Nigeria’s national grid will rise by 2,130 megawatts (MW), to add to an existing 2000MW idle volumes that power distribution companies (Discos) are unable to take to homes and offices in the country, the Minister of Power, Works and Housing, Mr. Babatunde Fashola has disclosed. Fashola, who stated…
THE nation’s power sector lost a total of N10.7 billion in the first week of July 2018, showing an increase of 13 per cent compared with N9.3 billion recorded in the last week of June 2018. A report obtained from the office of the Vice President Yemi Osinbajo, attributed the development to insufficient gas supply…
Most of the statements made last week Monday by the Minister of Power, Works and Housing, Babatunde Fashola, about the power sector are false, according to the electricity distribution companies. They said on Tuesday, in a document issued by the Executive Director, Research and Advocacy, Association of Nigerian Electricity Distributors, Sunday Oduntan, that comments made by…
Transnational Corporation of Nigeria (Transcorp) Plc recorded impressive growths in turnover and profitability in the first half with net profit rising by 161 per cent to about N10.9 billion. Key extracts of the interim report and accounts of Transcorp for the six-month period ended June 30, 2018 showed that turnover rose from N34.17 billion in…
The Bureau of Public Enterprises, BPE, yesterday, said most of the Distribution Companies, DISCOs, in Nigeria were technically insolvent. Director-General of the bureau, Alex Okoh, made this revelation during an interactive session at the instance of House Committee on Power, with critical stakeholders in the Nigerian power sector, including Nigeria Bulk Electricity Trading Company, NBET;…
Enugu Electricity Distribution Company (EEDC) yesterday said it has spent more than N10 billion on the procurement and installation of prepaid meters to its customers as part of efforts to end estimated billings in its area of coverage. The company also announced that it inherited more than 700,000 unmetered customers when it took over from…
The Yola Electricity Distribution Company (YEDC), says it has concluded arrangement to commence massive deployment of 435,000 meters to it customers to checkmate issues of energy theft in the zone. The Managing Director, Engr.Mustafa Umara said, the first phase of the project is expected to start with the metering of 8000 customers, mostly in the…
Flared gas in Nigeria is enough to generate between two and three gigawatts (Gw) of electricity. Nigerian Gas Association (NGA)President, Dada Thomas, said this while speaking on natural gas under-utilisation to power the economy. In a document titled: “Natural gas as a catalyst for Nigeria economic transformation: Technical challenges and opportunities”, Thomas, who is also…
The Chief Executive Officer of the Nigeria Electricity Liability Management Company (NELMCO), Adebayo Fagbemi, has said the company’s total inherited liabilities from the privatization of the Nigeria electricity industry stood at N544 billion as at December 2017. He listed the liabilities as: engineering, successor companies, legacy debts, creditors, power producers and Power Purchase Agreement (IPP’s…