Monday, August 19, 2019

Tag "DisCo"

    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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    FG considering taking over DisCos from ‘failed investors’

FG considering taking over DisCos from ‘failed investors’

Four months to the performance review of the electricity distribution companies (DisCos), the federal government has described the core investors as a failure.The government had said it would conduct a final review of the five-year performance agreement with the DisCos by December 31, 2019.The review is expected to determine if the electricity companies have achieved the performance targets they signed [...]

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    Blackout in Port Harcourt as TCN disconnects DisCo

Blackout in Port Harcourt as TCN disconnects DisCo

The Transmission Company of Nigeria (TCN) has disconnected two 33kV feeders belonging to Port Harcourt Electricity Distribution Company (PHEDC) from the national grid.In a statement on Friday, John Oyi, PHED’s corporate communications manager, said this has thrown some sections of Port Harcourt, Rivers state into darkness.He said the areas affected by the blackout are: state secretariat, government house, UTC area, [...]

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    HURRAY! NERC says you can get prepaid meters and pay later

HURRAY! NERC says you can get prepaid meters and pay later

The Nigerian Electricity Regulatory Commission (NERC) says electricity customers will be allowed to get prepaid meters and pay later.Speaking at a press conference in Lagos on Thursday, Nathan Shatti, NERC's commissioner for finance and management services, said customers will start enjoying the privilege from August.He said customers can either pay upfront or in instalments within a period of one to [...]

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    BPE: Sam Amadi making wild allegations on power privatisation

BPE: Sam Amadi making wild allegations on power privatisation

The Bureau for Public Enterprise (BPE) has accused Sam Amadi, former chairman of the Nigerian Electricity Regulatory Commission (NERC), of making wild allegations concerning power sector privatisation coordinated by the agency.In June, Amadi said the privatisation was designed to fail as the power assets were sold to investors who lacked financial and technical capacity.In a statement on Friday, BPE said [...]

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    FG to increase representation in power firms’ boards

FG to increase representation in power firms’ boards

The federal government says it will add two members to its representatives on the boards of the 11 electricity distribution companies (DisCos).In a statement in Abuja on Monday, Amina Othman, head of public communication of the Bureau for Public Enterprise (BPE), said the decision resulted from a meeting held with the shareholders of the DisCos.The federal government holds a 40% [...]

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    Sam Amadi: Power sector privatisation was designed to fail

Sam Amadi: Power sector privatisation was designed to fail

Sam Amadi, former chairman of the Nigerian Electricity Regulatory Commission (NERC), says the privatisation of the power sector was designed to fail.In a series of tweets, Amadi said the privatisation process could not produce the desired results because the power assets were sold to investors who lacked the financial and technical capacity.The sector was privatised after the unbundling of the [...]

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    TCN: Why national electricity grid collapsed

TCN: Why national electricity grid collapsed

Mohammed Usman, managing director of the Transmission Company of Nigeria (TCN), says the national electricity grid collapsed on Wednesday due to a multiple tripping on its substation in Onitsha, Anambra state.Speaking at a press conference in Abuja on Friday, Usman said the collapse may also be as a result of one of the generators that went off.TheCable had reported how [...]

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    New meter roll-out scheme suffers delay

New meter roll-out scheme suffers delay

Logistics challenges which electricity distribution companies (DisCos) are battling with have affected the commencement of the new meter roll-out under the meter asset providers (MAPs) regulation.The Nigerian Electricity Regulatory Commission (NERC) had issued permits to approved meter service providers to roll out of new meters by May 1.On March 8, 2018, NERC introduced the MAP regulation to new investors in [...]

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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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    Sam Amadi: DisCos trying to cheat… estimated billing might not end soon

Sam Amadi: DisCos trying to cheat… estimated billing might not end soon

Sam Amadi, former chairman of the Nigerian Electricity Regulatory Commission (NERC), says estimated billing might not end soon because of electricity distribution companies (DisCos) are trying to cheat.While answering questions on the meter asset providers (MAPs) regulation initiated by the commission at a programme on Arise Television, Amadi said the scheme is not a good policy compared to the previous [...]

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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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    FG to halt bailout for power firms, asks GenCos to find more customers

FG to halt bailout for power firms, asks GenCos to find more customers

The federal government has asked power generation companies (GenCos) to find eligible customers for its product as the payment for shortfalls might end soon.Speaking at a workshop on eligible customer regulation in Abuja on Tuesday, Louis Edozien, permanent secretary of the ministry of power, works and housing, said it is no longer sustainable for GenCos to complain of stranded power [...]

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    ANALYSIS: Why electricity generation may plunge further in 2019

ANALYSIS: Why electricity generation may plunge further in 2019

With the latest data from the advisory power team in the office of Vice-President Yemi Osinbajo revealing that the power sector lost a total of N530 billion in 2018, the industry is set to experience tougher times in 2019.Operational constraints from the shortage of gas, poor transmission, weak distribution network, and water reserves factor have become permanent issues to reckon [...]

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    GenCos: Abysmal performance of DisCos responsible for challenges in power sector

GenCos: Abysmal performance of DisCos responsible for challenges in power sector

The Association of Power Generation Companies (APGC) says the abysmal performance of electricity distribution companies (DisCos) is responsible for the challenges in the power sector.In a statement on Tuesday, Joy Ogaji, executive secretary of APGC, said the generation companies are being short-changed as they don't receive full payment for the amount of power generated.Ogaji said this in response to a [...]

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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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Exchange Rates

August 19, 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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