Category: Power
IKEDC cut off power supply to Magodo community over huge debts
By Energy Worth Residents of Gateway Estate, Magodo Phase I, in the Isheri area of Lagos State, have been left in darkness after Ikeja Electric Plc cut off power supply to them on Tuesday. Our correspondent gathered that the electricity distribution company cut off supply to the estate on the grounds that some residents were…
Only $8.5bn released for power projects in 13 yrs —Report
The controversy over the $16billion power projects in the country raged on yesterday, May 30, 2018, with a highly-placed source linked with the Niger Delta Power Holding Company (NPDHC) claiming that between $8.4billion and $8.58billion, out of the projected $16 billion was the amount actually allocated. The release of the $8.58billion was between 2005 and…
Transitional electricity market: Gencos roll out terms
The Electric Power Sector Reform Act (EPSRA) of 2005, and the Nigerian Electricity Supply Industry (NESI) are on the journey towards a perfect competition in the electricity industry market where there are few, if any, barriers to the entry of new players and prices are determined by the forces of demand and supply. Energy News…
Suspicion over tower collapse in Daura, as TCN invites DSS
There have been suspicions of sabotage and vandals’ activities on the recent collapse of a 132kv power transmission tower conveying electricity to Daura and neighbouring towns in Katsina state. The tower which is among the many along the line is built by the Transmission Company of Nigeria (TCN) and transmits electricity to the Daura transmission…
Heavy rainfall will affect power supply across Nigeria —Fashola
By Energy Worth The Minister of Power, Works and Housing, Mr. Babatunde Fashola has said there would be a drop in power supply because of the rain. He said power equipment was prone to destruction when there is heavy rainfall, adding that transformers, wires, cables and others are damaged by a thunderstorm. Speaking on the…
How FG can get power sector right — Chris Okonkwo, President, Senior Staff Association of Electricity and Allied Companies (SSEAC)
Stakeholders in the nation’s power sector have implored the Federal government to address distribution bottlenecks in Nigeria’s electricity value chain. They said although the power sector had witnessed increased generation and massive investment in transmission sector, there was no improvement in distribution. The stakeholders spoke against President Muhammadu Buhari’s Democracy Day speech on power supply,…
Nigeria moves to increase power generation
Energy Worth with Agency Report Nigeria has signaled an increasing shift towards the use of coal for the generation of electricity to power its economy as it invests N30 billion in the sector. The West African country has coal reserves of about 25 billion tons and this, the government is eager to exploit. Dr. Dauda…
The energy model that can predict gold prices
By Alex Kimani When trying to predict gold prices, investors usually look at one or several drivers: interest rates, U.S. dollar fluctuations, above-ground gold stocks, equities, bonds, commodity prices and even debt levels. But on their own, how reliable is each for predicting either short-or-long-term medium gold price movements? For instance, you have probably heard…
Electricity metering school opens in Ogun
Energy Worth with Agency Report The Nigerian Society of Engineer has commissioned Momas Metering School, established by Momas Electricity Meters Manufacturing Company Limited (MEMMCOL). This, the company said is expected to bridge the gap of professional manpower in the power sector, especially in the metering sub-sector. The Momas Metering School, located in Mowe, Ogun State…
TCN’s verdict on power supply
WHENEVER the opportunity has arisen over the last two years, the Minister of Power, Works and Housing, Mr. Babatunde Fashola (SAN), has not shied away from assuring the Nigerian public of the current administration’s commitment to provide uninterrupted power supply. The most recent occasion for the honorable minister’s avowal was in March this year when…