Thursday, August 1, 2019

Tag "NERC"

    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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    NLC to NERC: Nigerians can’t afford increase in electricity tariff

NLC to NERC: Nigerians can’t afford increase in electricity tariff

The Nigeria Labour Congress (NLC) says consumers cannot afford to pay high electricity bills if there is a further increase in energy tariff.Ayuba Wabba, NLC president, made this statement on Monday while speaking at the public consultation on capping of estimated billing by the Nigerian Electricity Regulatory Commission (NERC) in Abuja.Describing the proposed increase in tariff as exploitative billing, he [...]

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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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    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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    ICPC to prosecute NBET MD over fraud allegations

ICPC to prosecute NBET MD over fraud allegations

The Independent Corrupt Practices and other Related Offences Commission (ICPC) says it is set to prosecute Marilyn Amobi, managing director of the Nigerian Bulk Electricity Trading Company Limited (NBET), over procurement fraud.In February, Leaks.ng had done a story on how Amobi approved at least N2 billion  to two power generating companies.Leaks.ng is a coalition of media and civil society organisations. Daily [...]

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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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    Prepaid meters available for sale from June 15, EEDC tells south-east residents

Prepaid meters available for sale from June 15, EEDC tells south-east residents

The Enugu Electricity Distribution Company (EEDC) says it will commence the deployment of prepaid meters to its customers in the south-east from June 15.In a statement on Tuesday, Chukwuemeka Ezeh, EEDC's head of communications, urged the customers to take advantage of the meter asset providers (MAP) scheme and get metered within 10 days of paying for the meter.The electricity company [...]

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    NERC: We expect the metering gap of five million to be closed in three years

NERC: We expect the metering gap of five million to be closed in three years

James Momoh, chairman of the Nigerian Electricity Regulatory Commission (NERC), says he expects the country's present metering gap of five million to be closed in next three years.Speaking at the maiden graduation ceremony of the MOMAS Electricity Meters Manufacturing Company (MEMMCOL) metering school in Ogun state, the NERC chairman said the metering gap as of April was about 5,046,906 out [...]

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    Kaduna DisCo: We’ll begin meter deployment in four states by June

Kaduna DisCo: We’ll begin meter deployment in four states by June

Kaduna electricity distribution company (DisCo) says it will begin the deployment of prepaid meters to its customers by June.In a chat with TheCable on Thursday, Abdulazeez Abdullahi, head of corporate communications of the company, said the deployment will cover its franchise areas, Kaduna, Kebbi, Sokoto and Zamfara states.Abdullahi said the Nigerian Electricity Regulatory Commission (NERC) has approved four meter asset [...]

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    NERC imposes N300m fine on Abuja DisCo over death of 4-year-old boy in Niger

NERC imposes N300m fine on Abuja DisCo over death of 4-year-old boy in Niger

The Nigerian Electricity Regulatory Commission (NERC) has imposed a fine of  N300 million on the Abuja Electricity Distribution Company (AEDC) over "negligence" in the death of a 4-year-old boy in Niger state.This is contained in an order issued by the regulatory agency in Abuja on Tuesday.NERC said N50 million will be paid as compensation to the family of the [...]

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    NERC orders suspension of electricity supply to consumers in VI, Ikoyi

NERC orders suspension of electricity supply to consumers in VI, Ikoyi

The Nigerian Electricity Regulatory Commission (NERC) has ordered the suspension of electricity supply to consumers in Victoria Island and Ikoyi areas of Lagos state.In a directive issued on Tuesday, the regulatory agency said its investigation revealed that Peninsula Independent Power Plant (PIPP) had violated the terms and conditions of its licence by supplying electricity to the customers without approval of [...]

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    Fashola: NERC can revoke licences of non-performing DisCos

Fashola: NERC can revoke licences of non-performing DisCos

Babatunde Fashola, minister of power, works and housing, says the Nigerian Electricity Regulatory Commission (NERC) has the power to revoke licences of non-performing electricity distribution companies (DisCos).Speaking on Thursday at the 2019 Punuka annual lecture in Abuja, Fashola maintained that the regulatory body, not the minister, could either cancel or amend the licences of the DisCos upon consumers complaints.The minister [...]

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    Blackouts as national power grid collapses twice within 24 hours

Blackouts as national power grid collapses twice within 24 hours

The national power grid has collapsed twice within the last 24 hours causing blackouts in most states across the country.A daily report from the Transmission Company of Nigeria (TCN) confirmed a system collapse on Wednesday which reduced load allocations to the distribution companies.The collapse came after the grid recorded 4,212 megawatts on Wednesday morning.Bode Fadipe, spokesperson of the Abuja Electricity [...]

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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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    SERAP: Fashola has named corrupt contractors

SERAP: Fashola has named corrupt contractors

The Socio-Economic Rights and Accountability Project (SERAP) says Babatunde Fashola, minister of power, works and housing, has named contractors who failed to execute power projects after receiving payment.In a statement on Sunday, Kolawole Oluwadare, deputy director of SERAP, said the minister forwarded the list to the organisation.Oluwadare said SERAP has been invited to inspect a compendium of verified and paid/outstanding [...]

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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

August 01, 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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