NERC Archives - Page 2 of 2

FG Orders NERC To End Estimated Billing & Enforce Metering

July 10, 2018 0

The Federal Government on Monday ordered the Nigerian Electricity Regularly Commission to enforce the contract mandating power distribution companies to provide meters to customers and eliminate estimated electricity bills in the power sector. It said the directive to NERC became vital following the number of complaints coming from power consumers on meters, which the Discos should supply, as well as …

NERC Suspends Ibadan Disco’s Board Over N6 billion Transaction

June 22, 2018 0

The Nigerian Electricity Regulatory Commission has announced the suspension of the Board of Directors and other key management staff members of the Ibadan Electricity Distribution Company on account of the firm’s default in the recovery of an inappropriate shareholder loan of N6bn granted to Integrated Energy Distribution and Marketing Group Limited by the Disco. The IEDMG is the core investor …

Nigerians To Pay More For Electricity As NERC Approves ‘Service Charge’

March 19, 2018 0

The Nigerian Electricity Regulatory Commission (NERC) says prepaid meters will soon flood the market with the licensing of 87 meter asset providers (MAPs). What the power sector regulator downplayed, however, is there is also going to be an increase in the bills to be paid by electricity consumers in the country who get new meters under the latest regulation. On March …

NERC To Enforce New Metering Rule From April

March 15, 2018 0

The Nigerian Electricity Regulatory Commission will on April 3, 2018 commence the enforcement of its recently unveiled Meter Asset Provider Regulations, 2018, a policy that seeks to bridge the widening metering gap in the electricity supply industry. It was gathered that the country’s metering gap had increased to about 4.74 million, as power consumers welcomed the new policy, describing it …

NERC releases law on direct power purchase from Gencos

November 7, 2017 0

The Nigerian Electricity Regulatory Commission on Monday released the newly-approved eligible customers’ law and outlined the terms that would guide the direct purchase of electricity by end-users from power generation companies. In May this year, the Minister of Power, Works and Housing, Babatunde Fashola, declared that eligible power consumers would be free to purchase electricity directly from the Gencos. By …

End Of Recession: FG Lists $32bn Reserve, Oil Production, Electricity As Indicators

October 24, 2017 0

Federal Government said drop in headline inflation, increase in the nation’s Foreign Exchange Reserve and rise in crude oil production as well as improvement in public electricity generation the economy has witnessed collectively marked its rebound out of recession. The government said the National grid capacity rose to 6,900 megawatts in September and National Electricity Regulations Commission (NERC) would this …

CBN Lists Sanctions Against Banks Over Power Intervention Fund

September 9, 2016 0

CBN Lists Sanctions Against Banks Over Power Intervention Fund As Nigerians continued to grapple with incessant power-outage, the Central Bank of Nigeria (CBN) has spelt out sanctions to Deposit Money Banks participating in the disbursement of the N213bn Nigeria Electricity Market Stabilisation Facility, otherwise called power sector intervention fund. The sanctions were contained in a five-page circular posted on the …

Nigeria: Gas Independence Cannot Solve Existing Electricity Challenges

August 26, 2016 0

Nigeria: Gas Independence Cannot Solve Existing Electricity Challenges FRIDAY EKEOBA The Federal Government has said that the sole-reliance on gas cannot solve the country’s existing electricity challenges. Acting Chairman of Niger Delta Power Holding Company (NDPHC), Chinedu Ugbo, on behalf of the Minister of Power, Works And Housing, Babatunde Raji Fashola, made this statement during a conference in Lagos …