Power Sector And Other Related News Stories For Monday 27th February 2023
Revoke DisCos Licences, PENGASSAN Urges Next Administration
The President of Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Comrade Festus Osifo, has expressed the displeasure of the union over disappointing performance of Electricity Distribution Companies (DisCos).As a result, Osifo urged the incoming Federal Government executives to, without delay, revoke the licenses of DisCos over poor performance. Citing the inability of the investors to bring the expected turnaround maintenance and development in the electricity sector as another reason why he is calling for cancelling the entire privatisation exercises, he added that, since the investors have been performing below expectation, government should withdraw their licenses.
Discos Reject 408MW Excess Power
Power distribution companies have stepped up the quantum of electricity load allocation that they receive and distribute to consumers across the country, as the latest data from the Federal Government showed a reduction in the amount of unutilised energy by the Discos.
Data released on Thursday by the Federal Government-owned Transmission Company of Nigeria on Daily Discos Load Summary from February 4 to 10, 2023, showed that the cumulatively excess load allocation that was taken and distributed by the Discos during the period was 897MW.
Nigerian Government Announces Winner for Zungeru Hydropower Plant in Niger State
The Nigerian government has approved Mainstream Energy Solutions Limited (MESL) as the preferred bidder for the Zungeru hydroelectric power plant concession. Mainstream Energy Solutions Limited (MESL) secured the Zungeru hydroelectric power plant, with a concession fee of $70 million per year for 30 years
The development was announced by Ibeh Chidi, head of public communications for the Bureau of Public Enterprises (BPE), in a statement, Punch reports.
FG Begins Construction of New Electricity Substation, Projects 25,000MW Transmission Capacity in 2025
In order to increase Nigeria power transmission capacity for better electricity distribution, the federal government has embarked on the construction of a 2—30/40MVA, 123/33kv electricity substation with six feeders.
Investors King reports that the new electricity substation will elevate the country transmission capacity to 25,000 megawatts by 2025.
Presently, the nation power transmission capacity is around 7,500 megawatts and 8,000 megawatts, while the national grid has been generating between 4,000 megawatts and 5,000 megawatts for several years, Investors King has gathered.
FEDA Acquires 5% Stake in Geregu Power
The Fund for Export Development in Africa (FEDA), the impact development unit of the Africa Export and Import Bank (Afreximbank) has acquired a five percent stake in Geregu Power Plc, an electricity-generating firm.
According to a statement issued by Akinleye Olagbende, Geregu secretary, to the Nigerian Exchange Limited (NGX), the purchase of the shares was concluded on February 21, 2023 with the purchase agreed on December 21, 2022.
Last year, FEDA announced that it received internal approvals to acquire a strategic minority stake in Geregu Power Plc subject to satisfactory diligence and documentation.
Michigan Power Line Work Continues, California recovers
Some Michigan residents faced a fourth straight day in the dark on Sunday as crews continued working to restore power to more than 170,000 homes and businesses in the Detroit metropolitan area following last week’s ice storm.
Leah Thomas, whose home north of Detroit in the suburb of Beverly Hills lost power Wednesday night, was still waiting Sunday afternoon for the power to come back on.
Ukraine Has Electricity Reserves, No More Outages Planned if No New Strikes
Ukraine plans no more outages to ration electricity if there are no new strikes and has been able to amass some power reserves, the energy minister said on Saturday, after months of interruptions caused by Russian bombings.
“Electricity restrictions will not be introduced, provided there are no strikes by the Russian Federation on infrastructure facilities,” Energy Minister Herman Halushchenko said in remarks posted on the ministry’s Telegram messaging platform.