Thursday, May 23, 2019

Tag "NERC"

    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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    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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    It’s unrealistic to roll out new meters from May, manufacturer tells NERC

It’s unrealistic to roll out new meters from May, manufacturer tells NERC

Momas Electricity Meter Manufacturing Company Limited (MEMMCOL), one of the licensed meter asset providers (MAPs), says the directive to rollout new meters from May 1 is unrealistic.Speaking with reporters in Lagos on Sunday, Kola Balogun, chairman of the company, said some modalities need to be in place before that can work.On Friday, the Nigerian Electricity Regulatory Commission (NERC) had [...]

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    NERC orders rollout of new meters from May 1

NERC orders rollout of new meters from May 1

The Nigerian Electricity Regulatory Commission (NERC) has issued permits to meter asset providers (MAPs) to begin the roll out of new meters by May 1.In a statement on Saturday, the commission said MAPs engaged by Abuja and Jos electricity distribution companies (DisCos) will install the new meters in customers' premises within 10 working days of making payment.The three firms engaged [...]

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    Fashola: Some states enjoy almost 24 hours power supply

Fashola: Some states enjoy almost 24 hours power supply

Babatunde Fashola, minister of power, works and housing, says some states in the country now enjoy "almost 24 hours" of electricity supply.Speaking on Wednesday at a programme on Channels Television, the minister said the increase in electricity supply is as a result of the increase in transmission capacity.Fashola said even as the transmission grew with about 8,100 watts as of [...]

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    DisCos are responsible for meters, NERC tackles ANED

DisCos are responsible for meters, NERC tackles ANED

The Nigerian Electricity Regulatory Commission (NERC) says it is the obligation of the distribution companies (DisCos) to ensure that consumers are provided with meters under the Meter Asset Providers (MAPs) regulations.In a statement on Monday, the electricity regulatory body said majority of the DisCos that did not meet up the deadline for engaging the firms licensed by the organisation for [...]

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    Power sector recorded ‘N108bn shortfall’ within three months

Power sector recorded ‘N108bn shortfall’ within three months

The power sector recorded a shortfall of N108.652 billion between January and March, according to recent data from the advisory power team in the office of Vice-President Yemi Osinbajo.The loss was recorded due to water reserves constraints, insufficient gas supply, poor transmission and distribution network.The data showed that about 2,978 megawatts(mw) of electricity did not get to the national grid [...]

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    Right of reply: NERC absolves NBET MD of fraud

Right of reply: NERC absolves NBET MD of fraud

BY SAMBO ABDULLAHII am one of the management staff mentioned in the above captioned story published by TheCable on March 1, 2019. I wish to state that the pre-payment audit carried out on the payment vouchers as enshrined under the Financial Regulations on both Olorunsogo and Omotosho revealed the shoddy deals. The internal audit resistance led to both departments of [...]

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    NERC absolves NBET MD of fraud, says no proof of N2bn over-invoicing

NERC absolves NBET MD of fraud, says no proof of N2bn over-invoicing

The Nigerian Electricity Regulatory Commission (NERC) says there is no proof that Marilyn Amobi, managing director of the Nigeria Bulk Electricity trading Plc (NBET), overpaid two power plants by N2 billion.In a statement, the commission said its investigation revealed that the payments to Olorunsogo and Omotosho power plants by NBET are in line with the power purchase agreement, while the [...]

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Exchange Rates

May 23, 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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