POWER

The Bank of Industry has stated that it plans to invest over N1 billion in renewable energy and carbon-free businesses in the Niger Delta region. Speaking during an interview at the Bank of Industry’s SMEs Conference, South-South edition held in Port Harcourt, Executive Director, Corporate Services, Usen Okon Effiong, said the bank, through a loan facility from French Development Bank, ...

The distribution of free meters under the National Mass Metering Programme of the Federal Government, dropped by 58 per cent in the first quarter of 2022. Data sourced from the power market regulator showed that in the quarter under review, a total of 29,282 customers were metered under the NMMP, representing a 58 per cent decline from the 69,321 customers ...

Leading Electricity Distribution Company, Ikeja Electric Plc (IE), has ensured reconnection of Friesland Campina WAPCO Nigeria Plc after over two decades of using alternative source of power. According to the Acting Head of Corporate Communications Ikeja Electric, Kingsley Okotie, the reconnection of Friesland Campina back to the grid was achieved through relentless effort of the Business Optimization team of Ikeja ...

Digital energy multinational, Schneider Electric, says existing technologies can reduce these emissions by 70 per cent and engineer a healthier energy world for humans across the world. Microgrids Expert, Schneider Electric, Teina Teibowei, spoke with journalists on Schneider’s aim for upscaling the energy world, at an Innovation Summit in Maryland, U.S., a statement said on Friday. The event was attended ...

Nigeria power capacity will soon increase with an additional 125 megawatts to the national grid with the completion of the Olorunsogo Power Plant by the Niger Delta Power Holding Company (NDPHC) by end of the first quarter (Q1) 2023 findings have shown. The NDPHC is currently revamping the steam turbine of the Olorunsogo power plant, which is located in Ogun ...

Omena Sunday, 24 years and Bashir Sheu aged 28 years were arraigned before the Magistrate Court 1 Mushin, sitting at Ogba Magistrate Court on the 11th of January 2023 and Ifo Magistrate Court 2, Ifo Local Government in Ogun State on 27 September, 2022 respectively for vandalism and stealing transformer cables at Five Star Junction Apapa-Oshodi Expressway, Lagos and Otun ...

Energy services company Husk Power Systems has secured funding from Germany’s development finance institution DEG to build 8 new community solar microgrids in Nigeria, and to support expansion of the company’s India operations. DEG allocated the funds from its Up-Scaling Program, which is co-financed by the German Federal Ministry for Economic Cooperation and Development. With a portfolio of around €9.2 ...

The Organised Labour has faulted the over N3 trillion bailout granted to generation and distribution companies in the power sector by Federal Government after they have been privatised. The National Union of Electricity Employees especially criticised the government for injecting funds into companies owned by individuals without a commensurate increase in electricity generation and supply in the last 10 years. ...

Power distribution companies raked in about N296bn as electricity bills from customers in the first quarter of 2022, the Nigerian Electricity Regulatory Commission said on Thursday. In its just released first quarter 2022 report, the power sector regulator stated that the collection efficiency of the Discos was 67.36 per cent during the quarter under review. This came as the Transmission ...

Electricity distribution companies have quietly increased the payable by power consumers across the country. Although most of the Discos did not make this public, power users have kicked against the move, describing it as fleece amidst the harsh economic reality in Nigeria currently. Reacting to the price hike, a resident of Lagos highbrow estate, Mr. Oye Sola, lamented the increase. ...