Power Sector And Other Related News Stories For Monday December 12th 2022
Nigeria’s expanding solar energy market, journey towards Affordability
AS the world transitions to alternative sources of energy, Nigeria in terms of electricity still grapples with inadequate power supply to its increasing population.
Interestingly, the country’s source of supply is largely dependent on grid power whose efficiency is determined by generation, transmission and distribution factors. According to World Bank’s data of 2021, 85 million Nigerians still do not have access to grid electricity, representing 43 percent of the country’s population.
Firms Partner to Advance Nigeria’s Renewable Energy
Daikin Middle East and Africa FZE, one of the leading manufacturers of air conditioning, heating, ventilation and frigeration solutions and Panaserv, the authorised distributor in Nigeria have announced a new partnership agreement with Arnergy, a renewable energy company to promote its environmentally sustainable HVAC solutions across Nigeria.Speaking on the agreement, the Country Manager – English West Africa at Daikin Middle East and Africa, Vineeth Vijayan, was quoted in a statement at the weekend to have explained that the partnership empowers Nigerians through sustainable solar solutions.
Nigeria’s electricity sector risks total collapse on forex scarcity, debts
Nigeria’s power sector is facing a herculean task meeting the electricity needs of Nigerians as most of the equipment needed are imported.
All this, is due to inability of operators to get foreign exchange
As at the time of compiling this report, the exchange rate between the naira and the United States dollar is N440/$ on the official market and N735/$ on the black market.
According to investigation, operators in the power sector are grappling with repaying foreign currency loans borrowed when the exchange rate was more than three times its current value with investors tethering on the edges of default as they struggle to find forex to repay loans from an investment that has been a colossal loss
Lagos Moves to Take Over Electricity Regulation From NERC, as FG Says Mega Transformers Arriving Soon
On Thursday, December 8, 2022, the Lagos government announced that it was finalising measures that would enable it to take over the regulation of the state’s electricity from the Nigerian Electricity Regulatory Commission (NERC). The state government has sent a repeal of the Lagos State Electricity Law of 2018 to the state’s House of Assembly.
The new bill takes regulations of the electricity business away from NERC and domiciles them in the state’s regulatory agency
NERC enlightens consumers on electricity assets
The Nigeria Electricity Regulatory Commission, (NERC) says electricity consumers are not under obligation to buy transformers, and other assets for the Electricity Distribution Companies (DisCos).
The NERC Commissioner in charge of Consumers Affairs, Mrs. Aisha Mahmud, stated this at a three-day NERC/ Abuja Electricity Distribution Company (AEDC) Customer Complaint Resolution Meeting in Abuja on Wednesday.
Obi, Atiku, Tinubu’s electricity plans fail to impress stakeholders
Nigeria’s frontline presidential candidates have issued manifestos outlining goals to double or triple current electricity output but without properly diagnosing the problems, threatening their plans’ chances of success, industry operators have said.
At this year’s edition of the PwC Nigeria Annual Power and Utilities Roundtable, which held in Lagos on Thursday, themed ‘Setting a new power agenda post 2023 elections’, industry operators who spoke did not sound optimistic that the ills of Nigeria’s power sector would go away soon.
Nigeria Government Develops Energy Policy to Add 30,000MW of Electricity
The Federal Government of Nigeria (FGN) has developed a National Renewable Energy and Energy Efficiency Policy with accompanying Vision 30:30:30 to add 30,000MW of electricity by 2030.
The Minister of Power, Mr Abubakar Aliyu, said this in Abuja at the 5th National Council on Power (NACOP) with the theme” Sustaining and Improving Electricity Supply through the Power Sector Value Chain for Socio-Economic”.
Aliyu said that renewable energy would contribute 30 per cent of the energy mix to the policy. He also stated that renewable energy was taking centre stage in the ongoing reforms in the power sector, as is visible from the ongoing and completed projects in the Zungeru Hydroelectricity Power Project, which is at 97 per cent completion.
Electric Ireland Announces 23.9% Tariff Hike by 2023
Northern Ireland’s third-largest electricity supplier has announced it will increase electricity tariffs by 23.9% from 1st January.
Electric Ireland has confirmed it has written to its customers that the increase is necessary and has tried to keep prices as low as possible.
The Consumer Council has estimated that the increase will mean that the typical credit meter and pay-as-you-go customers will see bills rise by around £504 per year.
DPA Kenya Receives Sh332m for Renewable Solutions
Distributed Power Africa (DPA) Kenya Limited has received funding worth Sh332 million from Mirova SunFunder to deploy solar energy solutions to commercial and industrial (C&I) customers in Kenya. Mirova SunFunder’s senior investment officer leading the transaction, Jemimah Kwakye-Fosu, said the relationship is timely, particularly with the increased demand for Solar energy and climate change is a global concern.
While signing the deal, DPA Ceo Norman Moyo said the partnership would scale up renewable energy access in Kenya. He noted that energy is critical in supporting Africa’s economic development and digital transformation. He added, “With this investment, we expect to see increased uptake of renewable energy by enterprises in Kenya”.