Power Sector And Other Related News Stories For Thursday July 27th 2023

Posted by News Room July 27, 2023

Stakeholders To Address Challenges Of Africa’s Energy Access

Energy stakeholders are expected to converge at the upcoming Nigeria Energy Exhibition and Conference to address the critical challenge of Africa’s energy access.

Organised by Informa Markets, a global exhibitions organiser, the 10th edition scheduled to hold from the 19th to 21st of September 2023 in Lagos is themed, ‘Unlocking new value with reforms, investments and technology,’ and will bring together government, private sector, and investors to find solutions to the challenges facing Nigeria and West Africa’s electricity sector.



Union Kicks as Powercom Takes Over Kano Electricity Distribution Company

Powercom Smart Grid Nigeria (PSGN), a specialized utility company, said it has signed an agreement to the takeover of Kano Electricity Distribution Company (KEDCO).

PSGN announced the takeover in a press statement on 12 July.

This takeover comes after the Nigerian Electricity Regulatory Commission (NERC) last July appointed a new management for the KEDCO. The appointment followed the Nigerian government’s restructuring of five electricity distribution companies (DisCos) following Fidelity Bank’s takeover of three DisCos.

KEDCO’s board of directors was subsequently dissolved.



Nigeria’s Renewable Energy Operators Push for Clean Energy to Replace $20bn Generators’ Spend

The Renewable Energy and Energy Efficiency Associations-Alliance (REEEA-A), the umbrella body of all clean energy organizations in Nigeria, yesterday stated that clean energy sources could replace the $20 billion spent on fuelling generators in the country annually.

In a communiqué in Abuja after its international energy conference on: ‘’Accelerating Private Sector Investment in the Renewable Energy and Energy Efficiency Sector,’’ President, Governing Council of the group, Prof Magnus Onuoha, called on the authorities to create a level playing field for operators.



Government Hands Over 374 Power Projects to DisCos

Over $1.2 billion has been spent on key distribution projects in the country as part of measures to improve power supply in the country, Niger Delta Power Holding Company Limited (NDPHC) has said.

The fund was spent on over 374 projects under the Nigerian Electricity Supply Industry (NESI).

Executive Director in charge of Networks at NDPHC, Ifeoluwa Oyedele, at the eighth Nigeria Energy Forum in Lagos, said the fund is expected to be repaid by the benefiting distribution companies (DisCos).



NDPHC Boosts Power Supply With 374 Distribution Projects

The Niger Delta Power Holding Company Limited (NDPHC) has disclosed that it executed over 374 projects in the distribution subsector of the Nigerian Electricity Supply Industry (NESI) to improve power supply across the country.

NDPHC Executive Director, Networks, Engr. Ifeoluwa Oyedele who disclosed this at the 8th Nigeria Energy Forum in Lagos, said over $1.2 billion was spent on the project which is expected to be refunded by the benefiting electricity distribution companies (DisCos).



Renewable Energy Association Pushes Electric Vehicles Use

This was the resolution from its international energy conference on accelerating private sector investment in the renewable energy and energy efficiency sector held in Abuja.

Globally, renewable energy has been adopted as the most proactive option to addressing the challenges of electricity instability.

Every year Nigeria spends $15-20billion to buy petrol for generators and with the recent removal of subsidy from fuel and increase in the pump price, most small businesses are now unable to afford running on fuel.



Energy Sector to Unlock New Value Chain-UK

An electricity pylon is seen in Lydd, southern England, Monday, Aug. 15, 2022. A deepening cost-of-living crisis in Britain is about to worsen, with millions of people expected to pay more a year on their household energy bills starting in October. The U.K. energy regulator on Friday, Aug. 26 is set to announce the latest price cap, which is the maximum amount that gas suppliers can charge customers per unit of energy. It could mean people pay up to 3,600 pounds ($4,240) a year for heating and electricity.




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