Power Sector And Other Related News Stories For Wednesday February 15th 2023
KEDCO Generates N5.5b in Six Months
The Managing Director of Kano Electricity Distribution Company (KEDCO), Ahmad Dangana, explained that it achieved over 72 per cent growth from June 2022 by generating over N5.5 billion as at January 2023.
Dangana, who made the disclosure to newsmen during the company’s ongoing retreat in Kano, said the company recorded 42 per cent market remittance in June last year.
According to him, the company collection rose from N3.2 billion last year. He said: â€œWe can do better, as our target is to increase market remittance to over 70 per cent by the end of the year.
Nigeria Electricity Metering Deficit Avails UK Significant Partnership Deal
The Nigerian government and the UK are looking at possible ways to strike a partnership that will ensure the supply of electric meters to Africa largest economy.
Nigerian energy consumers have been trying for decades to get meters, but only 8.1 million of the country 12.8 million subscribers have received the gadget.
According to Nigerian Electricity Regulatory Commission (NERC), only about 4.66 million end-users, representing 36 percent of the entire pool had been fully metered at the end of November 2021.
Nigeria to Combat Climate Change With Carbon Tax
President Muhammadu Buhari GCFR recently approved Nigeria Energy Transition Plan, driven by the National Council on Climate Change Act 2021. The Carbon tax or tax on greenhouse gases comes in two broad forms: an emissions tax, which is based on the quantity an entity produces, and a tax on goods or services that are generally greenhouse gas-intensive, such as a carbon tax on gasoline. Under the arrangement, the federal government is expected to set a price which emitters pay for each ton of greenhouse gas emissions. The tax, apart from helping to generate revenue for the government, will encourage consumers to switch fuels, adopt new technologies and reduce emissions to avoid paying the tax.
Energy Demand in Nigeria, Others to Increase by 35% in 20 Years
The Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPC), Mallam Mele Kyari has projected that energy demand in Nigeria and other African countries would increase by between 30 to 35 per cent in the next 20 years.
Kyari also called for strong collaboration amongst oil and gas producing countries in the continent in order to share knowledge and help each other in critical areas, including technology, exploration and production, research and development, technical expertise and human capacity development to spread the wealth within the continent.
Nigerdock Deploys Renewable Energy for Green Ports
Nigerdock has completed the first phase of its shift to renewable energy sources through the installation of solar solutions at the Snake Island Integrated Free Zone.
Speaking on the initiative, the Chief Executive Officer, Nigerdock, Maher Jarmakani, said the solar power expansion is the next step in the company journey towards green port status and highlighting its vision and commitment to Nigeria Climate Change Act, the Blue Economy and the United Nations Sustainable Development Goals.
IRENA Seeks Focus on Hydropower Amidst Climate Concerns
The International Renewable Energy Agency (IRENA) has called on countries across the world to revisit and upgrade hydropower assets built several decades ago.IRENA, in a new report released on Monday, insisted that changes in the role of hydropower were creating a need to adjust the way hydropower assets are designed, operated and maintained.
Africa is World Most Energy-Poor Continent
Despite holding more than 8 per cent of the world proven natural gas reserves, Africa remains the most energy-poor continent In the world, a report has said.
Hawilti, a Pan-African investment research firm, disclosed this in its recent report titled â€œGas for Africa released on Tuesday.
The report said Africa has the lowest energy consumption per capita in the world, while the average electricity use of a sub-Saharan African resident is lower than that of a household fridge in the United States (US).
Where energy is available in African countries, the report said it is often expensive, inefficient, polluting, and unreliable.
EU Will Struggle to Meet Surging Electricity Demand
The EU’s demand for electricity is going to surge over the next decade. The bloc wants to decarbonize road transport and that alone will require vast amounts of power, with battery-powered cars and trucks likely to be the overriding solution. On top of that, Germany and France are split over how to provide sufficient electricity to make hydrogen, crucial in cutting emissions across sectors. France wants to include nuclear as a clean source of hydrogen, while Germany will soon close its last reactors, meaning it could become a net importer of electricity.
Isle of Man Electricity Prices Could Soar, Chief Minister Warns
Electricity prices on the Isle of Man are likely to spike when a six-month tariff cap is lifted, the chief minister has warned.
Prices for homes and businesses were capped by Manx Utilities (MU) after Tynwald backed the move in September.
But Alfred Cannan said he expected MU would soon have “no choice but to start raising prices substantially”.
It was time to take steps to “bring reality back into pricing structures” when the cap ends on 31 March, he said.