The Nigerian Electricity Regulatory Commission (NERC) has approved the increment in the tariff payable by electricity customers to N225/kWh. Musiliu Oseni, the vice chairman of the commission, who brief journalist in Abuja on Wednesday made this known, saying that the increased tariff is expected to take effect immediately. This development follows the recent increase of […]Read More
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has announced a new base price for natural gas at $2.42 per Million British Thermal Unit (MMBTU) for power sector and $2.92 for commercial users. The agency announced the new domestic base price and wholesale prices of natural gas for 2024 in a statement on Monday. […]Read More
The management of Ikeja Electric Plc, one of Nigeria’s leading electricity distribution companies, has attributed the ongoing power service disruption experienced by its customers to significant load restrictions across several of its transmission load centres. In an official communication addressed to its valued customers on Tuesday, the company expressed regret for the inconvenience caused and […]Read More
The Nigerian Electricity Regulatory Commission (NERC) has mandated all electricity distribution companies (DisCos) in Nigeria to procure at least 10 percent of their contracted energy offtake from embedded generation sources, half of which must be procured from renewable energy sources. This is expected to be made available by April 1, 2025. For example, Abuja Disco […]Read More
Carbon markets will play an important role in achieving climate, energy security, and sustainable development goals by boosting the efficiency of energy transitions and raising money for clean energy projects, according to Joseph McMonigle, Secretary General of the International Energy Forum. McMonigle was speaking at the launch of a new report entitled “The Role of […]Read More
In a strategic move to bolster the nation’s economic governance frameworks and ensure robust and coordinated economic planning and implementation, President Bola Ahmed Tinubu has approved the establishment of the Presidential Economic Coordination Council (PECC) and the creation of the Economic Management Team Emergency Task Force (EET). According to the statement signed by Ajuri Ngelale, […]Read More
The Management of Ibadan Electricity Distribution Company (IBEDC) Plc, has disconnected the power supply to the University of Ibadan College Hospital (UCH) due to an outstanding debt exceeding N400 million Naira, the DisCo said in a release. In the statement obtained by EnergyPlanets, this drastic measure comes after exhaustive attempts to engage with the hospital’s […]Read More
Tinuade Sandra, managing director of the Eko Electricity Distribution Company (EKEDC), has been relieved of her appointment with immediate effect. This is according to a letter signed by signed by Dere Otubu, the chairman of the DisCo. In the letter dated March 21, 2024, titled Implementation of NERC directive on seconded staff, addressed to Sandra, […]Read More
In a significant move towards sustainable energy solutions, the Federal Government has announced its intentions to establish a Compressed Natural Gas (CNG) park at the Ajaokuta Steel Company in Kogi State. The revelation came from Prince Shuaibu Audu, the Minister of Steel Development, in a statement issued by his media aide, Lizzy Okoji, on Monday […]Read More
Crude oil futures rose Monday as Ukrainian drone strikes disrupt Russian refining capacity and Moscow orders output cuts to meet the Organization of Petroleum Exporting Countries and allies (OPEC+ targets. The West Texas Intermediate contract for May gained $1.32, or 1.64 percent, to settle at $81.95 a barrel. The Brent contract for May added $1.32, or 1.55 percent, to […]Read More
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