Tag "DisCo"

    NERC asks DisCos to disconnect defaulting MDAs

NERC asks DisCos to disconnect defaulting MDAs

The Nigerian Electricity Regulatory Commission (NERC) has asked electricity distribution companies (DisCos) to disconnect government ministries, departments and agencies (MDAs) who are defaulting in the payment of energy bills.In a notice signed by Dafe Akpeneye, commissioner for legal, licensing and compliance, on Tuesday, the regulator said the responsibility of revenue collection from all customers including MDAs of states and federal [...]

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    NERC threatens to revoke licences of AEDC, Ikeja DisCo

NERC threatens to revoke licences of AEDC, Ikeja DisCo

The Nigerian Electricity Regulatory Commission (NERC) has threatened to withdraw the licences of eight electricity distribution companies (DisCos) over an alleged breach of market rules.In a notice signed by Dafe Akpeneye, commissioner for legal, licensing and compliance, on Tuesday, the regulator accused the DisCos of breaching the provisions of the electric power sector reform act (EPSRA).The affected companies were listed [...]

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    NERC says DisCos largely responsible for poor power supply

NERC says DisCos largely responsible for poor power supply

The Nigerian Electricity Regulatory Commission (NERC) says the distribution companies (DisCos) are largely responsible for poor electricity supply to customers despite increased power generation.The commission stated this in its newly released 2018 fourth-quarter report.The regulator stated that the limitation in electricity distribution networks remains the biggest constraints in delivering adequate power supply to customers.According to the data released by NERC, [...]

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    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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    IN DETAIL: N40 in Benin, N28 in Ikeja — here’s what you now have to pay for electricity

IN DETAIL: N40 in Benin, N28 in Ikeja — here’s what you now have to pay for electricity

On Wednesday, the Nigerian Electricity Regulatory Commission (NERC) approved new energy tariff for the electricity distribution companies (DisCos) in the country.For each DisCo, the tariffs differ according to customer classification. This piece focuses on the price range for residential customers under the R2 class – the amount they currently pay and what they are expected to pay next. Most residential [...]

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    Customers to pay more as NERC approves new electricity tariff (updated)

Customers to pay more as NERC approves new electricity tariff (updated)

The Nigerian Electricity Regulatory Commission (NERC) has approved new energy tariff for the electricity distribution companies (DisCos) in the country.The commission made this known on Wednesday in a series of publications tagged '2016-2018 minor review of the 2015 multi-year tariff order' (MYTO) for each DisCo.While there are no fixed rates across all DisCos, the tariffs now range from N4 per [...]

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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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    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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Exchange Rates

December 05, 2019USDGBPEUR
INTERBANK306397354
LAGOS355444389
KANO354445370
PH355447412
ABUJA356454413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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