Category: Power
Premium Power Agreement: Magodo residents commend Ikeja Electric over improved power supply
Residents of Magodo Estate, Lagos have commended the management of Ikeja Electric Plc (IE) for providing stable electricity to customers within the Estate following the signing of the Premium Power Agreement recently. The Premium Power initiative is a power purchase agreement under the ‘Willing Buyer, Willing Seller’ initiative issued by the Nigerian Electricity Regulatory Commission…
Buhari’s ‘Next Level’: Nigerians to pay more for electricity, documents reveal
The President Muhammadu Buhari regime through the Nigerian Electricity Regulatory Commission (NREC) has increased electricity tariff across the country. The difference between what Abuja Electricity Distribution Company (AEDC)’s customers pay currently and what they will pay from next year, is an increase of N9.8/kWh. According to Punch, findings from various documents obtained from the NERC…
Concern as FG set to take over Discos, return investors’ N736bn
. Oke Peter with Agency ReportThere are strong indications that the Federal Government is considering repossession of 10 electricity distribution firms as one of the options to rescue the nation’s beleaguered electricity industry. This is coming ahead of the scheduled final performance review of the private firms that bought into the distribution companies carved out…
Nigeria-Siemens 25,000MW electricity deal to cost over N1.15trn —Report
The six-year electricity deal signed by the Federal Government and Germany-based Siemens AG in July will cost more than N1.15 trillion to execute. The Punch has reported. The three-phase Nigerian electrification project which aims to achieve 25,000 megawatts of electricity in the country by 2025 will require more than N1.15 trillion to execute, according to…
Nigerian power transmission weak despite TCN’s $1.63bn intervention —Gencos
Shittu Oluwadamilola – Abuja The Association of Power Generation Companies in Nigeria (GENCOS) has disclosed that the transmission of electricity across the country is still weak despite the interventions and claim by the Transmission Company of Nigeria (TCN) that it currently has capacity to wheel over 8,000 megawatts of power. The transmission company had reportedly…
Ikeja Electric inaugurates Obawole 15MVA transformer injection substation
Electricity customers in Obawole, Fagba and environs of Iju, in Ifako-Ijaiye Local Government Area of Lagos State have started experiencing a vast improvement in power supply, with the commissioning of the Obawole 15MVA transformer Injection Substation by Ikeja Electric Plc (IE). The Injection Substation, which was commissioned last Friday, would provide residents with the availability…
TCN to raise transmission wheeling capacity to 10,000MW
The Transmission Company of Nigeria (TCN), said it was targeting to raise the transmission wheeling capacity to 10,000 megawatts (MW) from the present 8,100MW by reconductoring seven critical transmission lines in the country. The Managing Director/CEO, Mr. Usman Gur Mohammed who gave this indication at a quarterly press conference recently in Abuja, said this was…
Morocco’s Platinum Power partners with China’s CFHEC on $300m hydropower project
Renewable energy investor Platinum Power, minority-owned by United State private equity firm Brookstone Partners, has teamed up with China’s CFHEC to build a $300 million hydropower plant in central Morocco, it said recently. CFHEC, which is a subsidiary of state-owned construction firm CCCC, will partner with the Moroccan group to finance, build and run the…
Discos owe service providers N263bn
By Oke Peter Recent findings have shown that Nigerian Electricity Distribution Companies (Discos) owe service providers, including the Transmission Company of Nigeria (TCN), a total of N263 billion. The service providers in the power sector include the Nigerian Electricity Regulatory Commission (NERC), the Nigerian Bulk Electricity Trading Plc (NBET), the Transmission Service Provider (TSP), the…
Ikeja Electric begins MAP rollout in Shomolu
Leading Electricity Distribution Company, Ikeja Electric Plc (IE) has commenced the roll out of meters for customers in the Shomolu Business Unit under the Meter Asset Provider (MAP) scheme. The company, which has just completed the installation of meters for all residents of Unilag Estate in Isheri, announced that it has also commenced metering of…