Power Sector And Other Related News Stories For Monday January 8th 2024

Posted by News Room January 8, 2024

ACCI Commends EEDC for steady power supply during festive season

Mr Obegolu, who is also the leader of the private sector in the FCT, said in a statement on Saturday that the move greatly benefited businesses and residents in the region.

The ACCI boss, who was on a visit to the area of operation of the EEDC, highlighted the importance of regular power supply in improving the standard of living and facilitating business activities.

Mr Obegolu encouraged the EEDC to continue its efforts to ensure a reliable power supply in the South-East.

He also urged the state governments in the region to explore opportunities in the power sector and take advantage of the liberalisation that allowed sub-national entities to generate, transmit, and distribute power.


Consumers lament drop in electricity supply, scorching effect on businesses

Some of the consumers who spoke to Daily Sun in seperate interviews lamented that the development was having a negative impact on socio-economic activities as many small-scale businesses have shut down.

Findings by Daily Sun revealed that power supply has dropped to as low as five hours a day in some parts of Lagos and its environs.

Chairman of Egbiri Community Development Association (CDA) in the Abule Egba area of Lagos, Mr. Babasola Adeyemi, said for the better part of the yuletide, most homes were in darkness, making a mess of the celebrations.

He said most of the households within his CDA have inaudanted him with calls on the abysmal supply of electricity.


Despite Payment Default, Military To Spend N5.8bn On Electricity Charges

The three branches of armed forces have proposed to spend N5,817,782,952 in 2024 to pay electricity charges.

The amount is despite the military fingered among the government agencies that occasionally owed the Distribution Companies debt which they said affected their utmost efficiency.

Analysis of the 2023 budget showed that the Nigerian Airforce budgeted the highest amount of N2,993,758,694 million followed by the Nigerian Army with N2,224,024,258 billion and the Nigerian Airforce N600,000,000 billion.

Daily Trust reports that the erstwhile Chairman of the Senate Committee on Power, Senator Gabriel Suswam, said Electricity Distribution Companies had listed military formations, educational institutions and state governments among the defaulters of power bills.


Switch Off Electricity When Not In Use, LG Chairman Urges Residence

In a recent address signed by Igbanor Anthony A, Chief Press Secretary, Etsako Central LGA, he underscored the significance of responsible energy usage in fostering sustainable development and economic prosperity within the local government area.

Hon. Obomighie urged the residents of Etsako Central LGA to recognize the value of electricity and energy conservation, emphasizing that prudent energy consumption not only contributes to environmental sustainability but also facilitates ease in the payment of energy bills. By conserving energy, residents can also bolster the potential for sustained business growth and prosperity within the LGA.

In line with this, Hon. Solomon Obomighie has encouraged the adoption of energy-efficient practices and the incorporation of renewable energy sources where feasible. By taking proactive measures to optimize energy usage, the residents of Etsako Central LGA can contribute to the preservation and reduction of electricity bills while enhancing the economic landscape of the local community.


NBET Paid Over N2trn to GenCos In Five Years — NESI

The Nigerian Bulk Electricity Trading Company (NBET) paid over N2 trillion to the 26 Generation Companies (GenCos) between 2019 and 2023, the key operational financial data of the Nigerian Electricity Supply Industry (NESI) has revealed.

The sum was paid out of an invoice of about N4trillion, leaving an accrued shortfall of N2trillion.

A breakdown of the figures showed that in 2019, 2020 and 2021, the actual invoice to NBET by GenCos were N671bn, N775bn and N823bn respectively.

Out of these, the trading company paid N174.3bn, N230.1bn, and N431bn to the GenCos.

Between 2022 and 2023, GenCos presented N814bn and N896bn respectively but N549bn and N635bn was paid.

In August 2022, the Association of Power Generation Companies (APGC) lamented that its members were owed N1.75 trillion for power generated for the electricity market since 2013


TCN Port Harcourt Region Takes Delivery of New 60MVA Power Transformer

As part of the efforts to assist distribution companies serve the public better, the Port Harcourt Region of the Transmission Company of Nigeria (TCN) recently took delivery of brand-new 60MVA power transformer and accessories at the Rumuosi 132/33kV Transmission Substation in Port Harcourt.

When installed, the capacity of the substation will increase to 165MVA, thereby increasing the supply of bulk electricity to the Port Harcourt DisCo for onward distribution to its customers.

TCN has for sometime been consistently improving capacity to provide electricity nationwide with new installations and repair of Transmission capacity nationwide.


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