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
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
President Bola Tinubu has greenlit the reconstitution of the Board of the Nigeria Electricity Liability Management Company (NELMCO), marking a pivotal moment in the country’s quest for an efficient and robust power sector. This move comes with a significant modification to the NELMCO Board structure, signaling a strategic shift in governance aimed at enhancing the […]Read More
In a significant development, Governor Usman Ododo of Kogi State has revealed the successful recovery of 53 stolen transformers from the state. This declaration emphasises the government’s unwavering commitment to combating crime in the North-Central region. According to a statement issued on Monday by Ismaila Isah, the Special Adviser on Media to the governor, Ododo […]Read More
Transcorp Power Plc was listed on the Nigeria Exchange on Monday, March 4, with a 10 percent gain and a closing share price of N264. This gives us a valuation of N1.98 trillion, which means it made a whopping N180 billion on its first day of trading. The company, which is listed on the exchange […]Read More
Transcorp Power, one of Nigeria’s leading energy companies, has unveiled plans to list on the Nigerian Exchange Limited (NGX), with a significant market capitalisation pegged at N1.8 trillion. In a statement obtained by EnergyPlanets, Transcorp Power announced its intention to introduce 7,500,000,000 Ordinary Shares, each valued at 50 kobo, at a price of N240.00 per […]Read More