Power Sector And Other Related News Stories For Tuesday October 17th 2023

Posted by News Room October 17, 2023

DisCos, GenCos Push for Supply Improvement as TCN Rates Operators Low

Stakeholders in the power sector are pushing for leeway that would ensure a collaborative approach to resolving the challenges facing the power sector amidst poor supply of electricity across the country.

They met at the bi-yearly joint generation, operations and DisCos’ planning meeting in Abuja.While the players insisted that only a sustainable strategy would address the challenges in the sector, the Transmission Company of Nigeria (TCN) said the level of generation remained a major issue despite improvement of transmission capacity to 8,500MW.



NDPHC Assures of Reliable, Cost-Effective Power Supply to Industrial Clusters, Homes

The Managing Director of the Niger-Delta Power Holding Company, NDPHC, Chiedu Ugbo has assured Nigerians of cost-effective supply of electricity to industrial clusters, as well as homes.

Ugbo stated this at the NDPHC/Agbara Industries Bilateral Energy Sales Road Show, at Agbara, Ogun State.

He said, “The primary objective of this initiative is to ensure a consistent, reliable, and cost-effective supply of electricity from our power plants to the extensive industrial and business clusters in Agbara and throughout Nigeria.



Consumers Paid N268bn Electricity Bills in Q2 – FG

The Federal Government, on Monday, said power consumers paid a total of N267.86bn as electricity bills in the second quarter of this year.

It disclosed this in the just released second quarter 2023 report of the Nigerian Electricity Regulatory Commission, while explaining the collection efficiency of power distribution companies during the review period.

It said, “The total revenue collected by all Discos in 2023/Q2 was N267.86bn out of N354.61bn billed to customers. This translates to a collection efficiency of 75.54 per cent, which represents an increase of 6.79pp (basic points) when compared to 2023/Q1 (68.75 per cent).



Stakeholders Identify Challenges, Solutions to Energy Growth

Nigeria’s energy sector has many challenges that need to be addressed for the sector to grow, stakeholders have said. According to the Managing Director/Chief Executive Officer, Falcon Corporation, Mrs Audrey Ezeigbo, in addressing Nigeria’s energy transition, it is imperative to enhance investment opportunities and address challenges in the oil and gas sector.
She said the attainment of such would be pivotal to Nigeria’s economic development, environmental sustainability, global competitiveness, and the well-being of people.



Data Centres Weigh Price Hike as Energy Costs Soar

The high cost of energy is forcing data centres in Nigeria to consider increasing the price of their services – a development that would impact the cost of internet and other IT services.

Data centres, often described as the engine room of the internet revolution, are facing tough times with the continued increase in the price of petrol and diesel that have led to a rise in the cost of energy.

A drop in internet consumption can derail the country’s pursuit of 50 percent broadband coverage by the end of 2023. Nigeria’s broadband penetration declined to an eleven-month low of 45.7 percent in August as capital investments in the telecom industry took a back seat and telecommunications companies prioritised survival amid worsening economic conditions. With less than four months to go, the ability of the industry operators to hit the 50 percent mark now hangs by a thread, especially should diesel prices continue to move upwards.



Ajaokuta Steel Faces Disconnection Over N25bn Debt, Says NERC

Electricity distribution companies through the Nigerian Electricity Regulatory Commission have warned the Federal Government that failure to settle its electricity bills totalling N25bn may result in its facility, Ajaokuta Steel Co. Ltd,’s disconnection from the national grid.

This was contained in the newly released 2022 NERC’s annual report seen by The PUNCH on Monday.

According to the report, the Federal Government, through the Ajaokuta Steel Co. Ltd was owing the power sector a total of about N25bn for electricity supplied in 2022.

As of 31st December 2022, NERC said the firm’s total debt to the Nigerian Bulk Electricity Trading and the Market Operator stood at about N23bn and N2bn respectively making a total of about N25bn.


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