Monday, October 14, 2019

Tag "NERC"

    After Magodo, Ikeja GRA inks deal with Ikeja DisCo for 24-hour electricity supply

After Magodo, Ikeja GRA inks deal with Ikeja DisCo for 24-hour electricity supply

Ikeja Electric (IE) has signed a bilateral agreement with residents of  Ikeja government reserved area (GRA) to supply them 24-hour electricity.The electricity distribution company announced this on its Twitter page on Saturday."Ikeja Electric signs bilateral Power Agreement with Ikeja GRA. ...Residents to enjoy up to 24 hours of supply daily," the company said.https://twitter.com/IkejaElectric/status/1182593399892992000?s=19Some of the streets to enjoy this benefit include [...]

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    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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    We weren’t consulted on electricity tariff review, consumer groups tackle NERC

We weren’t consulted on electricity tariff review, consumer groups tackle NERC

Consumer right groups say the Nigerian Electricity Regulatory Commission (NERC) did not consult them before approving a new tariff review for electricity customers in the country.On Wednesday, the regulator approved a minor review of the 2015 multi-year tariff order (MYTO) for each electricity distribution company (DisCo).This has elicited reactions from consumers, groups and stakeholders in the Nigerian electricity supply industry [...]

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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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    It’s ONLY an adjustment of 2015 tariff, says NERC on electricity charge review

It’s ONLY an adjustment of 2015 tariff, says NERC on electricity charge review

The Nigerian Electricity Regulatory Commission (NERC) says the recent review on electricity charge is an adjustment of 2015 tariff.On Wednesday, the regulator released series of publications tagged 2016-2018 minor review of the 2015 multi-year tariff order’ (MYTO) for each electricity distribution company (DisCo).It said the review will become effective from January 1, 2020.In a statement on Friday, the commission said [...]

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    NERC: We made consultations before increasing electricity tariff

NERC: We made consultations before increasing electricity tariff

The Nigerian Electricity Regulatory Commission (NERC) says the decision to increase tariff was taken after consulting Electricity Distribution Companies (DisCos) and stakeholders in the sector.James Momoh, chairman of NERC, said this while addressing reporters when Sale Mamman, minister of power, assumed office on Thursday.In a statement on its website, NERC had announced that from January 1, 2020, it shall make necessary [...]

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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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    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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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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