Wednesday, March 3African Business News
Shadow

Tag: Electricity

300 unemployed youths get training on metering

300 unemployed youths get training on metering

Appointments
In addressing youth unemployment and building sustainable human capacity development, Momas Electricity Meters Manufacturing Company (MEMMCOL) has offered to train over 300 unemployed youths on an effective electricity metering programme scheme. The move, the firm said, was to complement Federal Government’s effort on metering in the power sector. Chairman, MEMMCOL, Engr. Kola Balogun, during an interactive session with journalists, said the idea was to extend the company’s corporate social responsibility to some states and develop manpower capability among unemployed youths in Nigeria. Balogun said that this would enable unemployed youths to benefit from the other value-added programmes of the Federal Government. He said the initiative would also enhance the ...
Group seeks disbandment of proposed transmission charge

Group seeks disbandment of proposed transmission charge

Power
The Nigerian Electricity Regulatory Commission (NERC’s) plan to allow the electricity distribution and trading licensees to introduce competition transition charge by has elicited public criticisms. The Competition Transition Charge (CTC) is a new rule to make prospective Eligible Customers (EC) and other consumer class, compensate the 11 electricity Distribution Companies (DisCos) for leaving their networks to buy power directly from Generation Companies (GenCos). NERC had in pursuant to the provisions of Section 28 of the Electric Power Sector Reform Act (EPSRA) in May 2019, published on its website www.nerc.gov.ng a Consultation Paper on a framework for the collection of Competition Transition Charge (CTC) from Eligible Customers (ECs). “The CTC shall enable Distribution Licens...
Criticisms trail NBET’s board structure, movement to finance ministry

Criticisms trail NBET’s board structure, movement to finance ministry

Business
Some stakeholders in the nation’s power sector have expressed divergent opinion over the constitution of the new board of the Nigeria Bulk Electricity Trading Company as well as the movement of the agency to the Ministry of Finance, Budget and National Planning. With some stakeholders insisted that the agency remained transitional and wouldn’t be needed if the country’s power sector was functioning as designed, some experts raised concern over the level of debt in the sector despite the presence of the agency. While the mission and vision of the agency were to be an efficient and effective catalyst for investment into the Nigeria electricity market by ensuring transparency and guaranteeing payment and create a financially viable electricity market, the market is currently heading tow...
NERC seeks alternative dispute resolution in power sector

NERC seeks alternative dispute resolution in power sector

Business
The Nigerian Electricity Regulatory Commission (NERC), yesterday urged stakeholders in the Nigerian Electricity Supply Industry (NESI), to adopt alternative dispute resolution for the resolution of differences in the electricity industry in line with the provisions of the market rules. The government, which approved the reappointment of a 12-member Dispute Resolution Panel for the sector, to settle disputes in the market, which include System Operator (SO), the Market Operator (MO), and other licensees engaged in the trading of electricity. Assistant General Manager, Government, External and Industry Relations, of NERC, Michael Faloseyi, who disclosed this in Abuja, said the appointment of the members was in line with Section 42.1.3 of the Market Rules. According t...
‘Smart Utility Solution Will Reduce Electricity Consumption’

‘Smart Utility Solution Will Reduce Electricity Consumption’

Economy
The Vice President, Corporate Development, CWG Plc, Mr. Daniel Shoban-Das, has said the Smart Utility Solution (SUS), which it pioneered and initiated can reduce electricity consumption by Nigerians. The firm said the initiative was designed to automatically and remotely manage electricity consumption. Disclosing the functionalities of the solution in Lagos recently, Shoban-Das noted that apart from power reduction, the solution would make a remote prepayment, remotely connects and disconnects service, detects tampering and monitors voltage and current. He added that as part of the efforts to manage customers’ complaints, which was hitherto one of the challenges of the power distribution companies, the SUS combined cutting-edge customer technologies such as smart Customer Interf...