Power Sector And Other Related News Stories For Thursday September 21st 2023
Experts Hold Forth On Power Sector Legal Reform
A closer look at new legislation allowing state governments to generate and transmit their electricity – essentially paving way for state electricity markets; hopes Electricity Act will open funding and attract new investment into sector
Nigeria Energy 2023 opened at Landmark Centre in Lagos yesterday with surprises, including ambitious goal setting by the country’s new Minister of Power. Hon. Adebayo Adelabu announced a national target to reach 20GW power generation capacity in three years.
Further insights on the transformation of the power sector in Nigeria came in an opening panel discussion, “The Fifth Alteration Bill No. 33, Devolution of Powers (National Grid System) and the New Electricity Act 2023.”
‘Electricity Act Will Transform Power Sector’
Minister of Power, Adebayo Adelabu, yesterday reiterated that the recently signed Nigerian Electricity Act, 2023, will play a fundamental role in transforming the power sector.
He said it will unlock the potential of the energy mix and promote the integration of renewable energy technologies into the grid system.
He spoke at the ongoing Nigeria Energy conference and exhibition in Lagos.
According to him, the Act aims to create an environment that supports sustainable growth and investment in the power industry by focusing on accelerated private investment and the promotion of renewable energy sources.
We Have Over 8m Meter Gap in Nigeria – Power Minister
The Federal Government has revealed that eight million metering gap exists, noting that it was committed to bridging the gap.
The Minister of Power, Adebayo Adelabu, who stated this at the 10th edition Of Nigeria Energy Conference and Exhibition 2023, said: “We have over eight million meter gap In the country.
“Also need to reduce or even eliminate this gap and come up with technology to ensure that collections are monitored.
“We need to be able to collect all power distributed. Every household and business must be metered.
Ekiti Assembly Passes Electricity Power Sector Bill, One Other
The Ekiti State House of Assembly on Wednesday passed two bills, the Electricity Power Sector Bill, 2023, and the Ekiti State Development and Investment Promotion Agency (Amendment) Bill, 2023 into law to further improve the development and economy of the state.
The House passed the bills after subjecting them to the Committee of the whole and voice notes conducted by the Speaker, Rt. Hon. Adeoye Aribasoye.
The first bill, Ekiti State Electricity Power Sector Bill, 2023, passed sequel to the report of the Committee on Infrastructure and Public Utilities, read by its Chairman, Hon. Femi Akindele, seeks to provide for the establishment of state electricity generation, transmission, and distribution in the urban, semi-urban and rural communities.
TCN Calls For Energy Storage Regulation
The Managing Director of Transmission Company of Nigeria (TCN), Sule Abdulaziz, has called for proper regulation of energy storage in the industry.
Speaking at the ongoing three-day 2023 Nigeria Energy Leadership Summit in Lagos, the TCN boss, who was represented by the company’s General Manager, Regulation and Compliance, Ali Bukar, said the 2023 Electricity Act did not tackle the issue of storage.
“There should be a regulation in the electricity market to account for the amount of energy individuals and households are supposed to store for safety reasons. What is missing in the region’s electricity market is energy storage, which incidentally is one of the shortcomings of the new act,” he said.
Ghana May Export Electricity to Nigeria as Country Achieves 85% Universal Energy Access
West African nation, Ghana, is making adequate plans and implementing policies and programmes to further grow its power sector to achieve 100 per cent universal energy access and probably export to her “big brother” nation, Nigeria.
The Head of Generation and Transmission Unit, Ministry of Energy, Ghana, Mr. Hanson Monney, stated this in Lagos, yesterday, while presenting the overview, progress and challenges of his countries’ power sector at the 2nd Day of the Nigeria Energy Leadership Summit.
Monney, said Ghana has through a robust policy formulation and implementation achieved between 80 to 85 per cent universal energy access in the country.