Tag Archives: Nigerian Electricity Regulatory Commission

Electricity tariffs to rise by 40% next month

Electricity tariffs to rise by 40% next month

Plans have been concluded to increase electricity tariffs by as much as 40 per cent for some customers next month as a fall in the value of the naira and rising costs hinder efforts to end daily blackouts in Africa’s largest economy. “We are working on the numbers and going through the processes,” Bloomberg quoted the Chairman,

Nigeria to reach 6,000 megawatts by March 2016 – Osinbajo

Vice President Yemi Osinbajo on Monday said the Federal Government had plans to distribute 6,000 megawatts of electricity in the country by the first quarter of 2016. According to a statement by the Senior Special Assistant on Media and Publicity to the Vice President, Laolu Akande, Mr. Osinbajo stated this at Kaleta in the Republic

Regulator threatens electricity firms for exploiting unmetered customers

Dissatisfied with the level of implementation of the Credited Advance Payment for Metering Implementation by majority of the power distribution companies, the Nigerian Electricity Regulatory Commission has said it will soon commence enforcement of compliance with the terms of of their operational license. Consequently, the Commission said on Thursday that the DISCOs have been given

Power Bulk Trader to Cut PPAs Negotiations Timeline to Six Months

The Nigeria Bulk Electricity Trading (NBET) Plc said it has made some major improvements in the content of Power Purchase Agreements (PPAs) to be negotiated and deployed by potential investors for setting up greenfield power generation plants in Nigeria. NBET,  which is also referred to as the bulk trader, procures bulk electricity from generation companies

DISCOs seek Presidency’s help over alleged N7b debt

ELECTRICITY distribution companies (DISCOs) has lamented how the debts allegedly owed them by Ministries, Departments and Agencies (MDAs) are crippling the electricity sector. They therefore, called on the Presidency to come to their aid and direct security agencies and other government bodies to pay up their debts. The DISCOs, which have come under the umbrella


Nigeria Needs to Raise Gas Prices to Bridge $55 Billion Gap

Bloomberg-Nigeria has to raise its gas prices to attract an estimated $55 billion of investment needed to plug persistent local shortages, Nigerian Gas Association President Bolaji Osunsanya said. A government increase of gas prices in August for power plants to $2.50 for 1,000 cubic feet from about $0.50 isn’t enough, Osunsanya, who is also managing


NERC Urges FG to Review Gas Deals

The Nigerian Electricity Regulatory Commission NERC has charged the in-coming Government of General Muhammad Buhari (rtd) to review and separate the supply of gas to power generation plants from the Nigerian National Petroleum Corporation, NNPC. It insisted that for electricity supply to stabilised and distributed judiciously across the country, the incoming Government needs to do


How Buhari Can Fix Electricity

Chineme Okafor writes that to meet the yearnings of Nigerians for sustainable power supply, the incoming government of Muhammadu Buhari, must build on existing reforms in Nigeria’s electricity industry to ensure its quick revitalisation In adopting electricity privatisation, the federal government perhaps viewed it as the best way to solve Nigeria’s long running electricity problem

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