Sunday, October 20, 2019

Tag "ANED"

    Nine hours of darkness as national grid collapses for the 10th time in 2019

Nine hours of darkness as national grid collapses for the 10th time in 2019

The national electricity grid recorded another collapse on Friday, throwing most parts of the country into darkness for nine hours.Ndidi Mbah, spokesperson of the Transmission Company of Nigeria (TCN), told TheCable that the system collapse, which is the 10th this year, happened around 2:01 p.m., but that the grid was restored around 9:01 p.m.The incident was said to have led [...]

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    DisCos reject move by FG to take over power firms

DisCos reject move by FG to take over power firms

The Association of Nigerian Electricity Distributors (ANED) has rejected reported plans by the federal government to repossess the distribution companies (DisCos).It had earlier been reported that the government is considering taking over the distribution assets from the investors and pay them off with N736 billion. The FG described the investors as a failure.Sunday Oduntan (pictured), ANED's executive director for research [...]

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    DisCos demand cost recovery framework to invest in electricity

DisCos demand cost recovery framework to invest in electricity

The electricity distribution companies (DisCos) have demanded a cost recovery framework before making investments in power distribution.Speaking at a seminar for the preparation of performance improvement plans (PIP) by DisCos, Azu Obiaya, chief executive officer of the Association of Nigerian Electricity Distributors (ANED), said the framework is necessary to align the sector towards commercial viability and sustainability.The Nigerian Electricity [...]

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    ANALYSIS: Why Nigeria will remain in darkness a little longer

ANALYSIS: Why Nigeria will remain in darkness a little longer

The unbundling of the Power Holding Company of Nigeria (PHCN) on November 1, 2013, was like a breath of fresh air for the Nigerian power sector that had undergone decades of protracted crisis. The privatisation of the sector was greeted with so much enthusiasm and loads of expectations. Finally, the years of blackouts would soon be over, many had thought. The [...]

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    DisCos supplied 79,850 meters in 2018 — NOT enough for 4.6m households in need

DisCos supplied 79,850 meters in 2018 — NOT enough for 4.6m households in need

The 11 Nigerian electricity distribution companies (DisCos) supplied 79,850 prepaid meters in 2018, despite a 4.6 million metering gap in the country.This is contained in the recently released 2018 fourth quarter power sector report of the National Bureau of Statistics (NBS).According to the report, the total number of electricity consumers with prepaid meters supplied by the 11 DisCos in the [...]

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    DisCos have ‘lived below expectation’

DisCos have ‘lived below expectation’

Electricity distribution companies (DisCos) in the country have performed below expectation five years after the privatisation of the power sector.Chiedu Ugbo, managing director of Niger Delta Power Holding Company (NDPHC), made this known while speaking at the Nextier Power Dialogue in Abuja.He said the 11 DisCos have still not met their various performance agreements since they took over the power [...]

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    We have constitutional right to protect interest of DisCos, ANED replies NERC

We have constitutional right to protect interest of DisCos, ANED replies NERC

The Association of Nigerian Electricity Distributors (ANED) says the constitution empowers it to protect the interest of electricity distribution companies (DisCos).In a statement on Wednesday, Azu Obiaya, chief executive officer of ANED, said the association will not fold its arms when its members are endangered.He said contrary to the directive of the Nigerian Electricity Regulatory Commission (NERC), ANED’s opposition to a policy [...]

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    NERC warns ANED to steer clear of electricity matters

NERC warns ANED to steer clear of electricity matters

The Nigerian Electricity Regulatory Commission (NERC) has warned the Association Of Nigerian Electricity Distributors (ANED) to steer clear of policy directives in the power sector.The commission made the directive during a meeting with representatives of electricity distribution companies (DisCos) in Abuja.ANED is the umbrella body of the DisCos.At the meeting, ANED representatives were warned against commenting on any pronouncement made by [...]

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    DISCOs: Electricity tariff MAY go up in 2017

DISCOs: Electricity tariff MAY go up in 2017

The Association of Nigerian Electricity Distributor (ANED) says electricity tariff may go up again in 2017, but this time, "modestly".Speaking at a press conference in Lagos, John Donnachie, managing director and chief executive officer of Ibadan Electricity Distribution Company, said the Discos inherited a backlog of underinvestment, which must be surmounted.“In order to address shortfall, we need to borrow, and [...]

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Exchange Rates

October 14, 2019USDGBPEUR
INTERBANK306397354
LAGOS362475413
KANO361474413
PH361475412
ABUJA362476413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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