Power Sector And Other Related News Stories For Monday 9th October 2023
Electricity capacity in Nigeria grew 7.95% between 2015 and 2022 – NERC
The Nigerian Electricity Regulatory Commission (NERC) has said that electricity capacity in the country grew by 7.95% between 2015 and 2022.
The regulator stated this in its 2022 NERC Market Competition Report released on Friday, October 6.
According to the NERC Report, the installed capacity within the Nigerian Electricity Supply Industry (NESI) experienced a notable growth of 7.95% from 12,132 megawatts (MW) in December 2015 to 13,097 MW in December 2022.
Nigeria’s National Grid Power Capacity Hits 14,000MW
The Federal Government through the Association of Power Generation Companies grew the power capacity of the country.
Dr. Joy Ogaji, APGC’s Executive Secretary, confirmed this on the sideline of the Association of Energy Correspondents of Nigeria’s 2023 annual international strategic conference last week Thursday.
The Executive Secretary said electricity generation capacity to the national grid has increased to almost 14,000MW.
Dr Ogaji explained that the increase was brought about due to the addition of a $1.3bn Niger state-based 700MW Zungeru hydroelectric plant which came on stream in the second quarter of the year.
Tinubu Govt Confirms Drop In Electricity Generation
The report claimed that the electricity generation capacity dropped due to, among other things, diminishing plant/unit capabilities and poor maintenance brought on by liquidity concerns.
The amount of electricity available declined by more than 2,300MW between 2015 and 2022, despite a minor rise in the country’s existing electricity generation capacity.
Since 2015, when the electricity generation companies were transferred to private investors, the installation and generating capacity of the power plants connected to the grid have increased, the NERC report claimed.
ICAN, NSE Pledge Support For Power Minister
Institute of Chartered Accountants of Nigeria (ICAN) and the Nigeria Society of Engineers (NSE) have pledged support for Minister of Power, Chief Adebayo Adelabu, in the effort to provide affordable, clean and uninterrupted energy supply in the country.
The pledges were made at the weekend at separate visits to the Minister.
Speaking during the visit, President of ICAN, Mr Innocent Okwuosa, who also came to intimate the Minister about the upcoming 53rd Conference of ICAN starting on Monday noted the myriad of challenges facing the power sector over the years which have hindered the ability to provide reliable and affordable electricity to citizens and businesses.
WAPP To Commence Day-ahead Electricity Market
With the completion of the construction and equipping of the West African Power Pool, (WAPP) Information and Coordination Centre (ICC), the organisation is finalising arrangements to commence day-ahead electricity trading in the regional market.
The day-ahead energy market is a system that allows transactions for the buying and selling of electrical power one day prior to the delivery day.
Speaking at the WAPP 59th Executive Board Meeting held at Calavi, Cotonou, Benin Republic, on Friday, the executive board chairman and managing director/chief executive officer of the Transmission Company of Nigeria, TCN, Engr. Dr. Sule Ahmed Abdullaziz said that the regulatory document for activation of the next phase of the market is undergoing approval process at the ECOWAS Electricity Regulatory Authority (ERERA).
Investors Commit $1bn to Gas-to-Power Projects
Out of the $80bn gas-to-power projects planned to be established in Nigeria, only $1bn has been committed to these projects by investors, an oil and gas report seen on Sunday showed.
In the report, which was put together after the recently concluded policy dialogue on Nigeria’s Decade of Gas plan, stakeholders in the sector stated that financing for natural gas projects had been on the decline due to the push for climate-friendly projects.
The policy dialogue from where the report emanated, was organised by the African Initiative for Transparency, Accountability and Responsible Leadership, in conjunction with the Natural Resource Governance Institute.