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Okechukwu Nnodim, Abuja
Published 4:21 am
Power generation companies received N81.14bn as payment assurance from the Nigeria Electricity Bulk Trading Plc in 2020, the Nigerian Electricity Regulatory Commission has said.
NERC disclosed this in its latest Key Operational and Financial Data of the Nigerian Electricity Supply Industry: 2019-2020 obtained in Abuja.
NBET disburses payment assurance to power generators to enable the Gencos to meet their financial obligations to gas and equipment suppliers, banks and other partners.
NBET buys bulk power from Gencos and sells same to electricity distributors, who in turn distribute the commodity to end users at a bill approved by NERC.
Ikeja Electric: Why metering of customers is slow today.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from today.ng Daily Mail and Mail on Sunday newspapers.
TCN working to achieve zero system collapse ― Abdulaziz TCN working to achieve zero system collapse ― Abdulaziz
• Records fastest grid collapse recovery
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The Transmission Company of Nigeria (TCN), on Tuesday, said it is working to achieve zero system collapse in the Nigerian Electricity Supply Industry (NESI).
This was even as it recorded the fastest recovery of the power grid system after a partial collapse, on Wednesday.
The Company’s Acting Managing Director (MD), Engr Sule Abdulaziz, stated this at a media briefing in Abuja.
According to him, the latest system collapse was restored in 45 minutes, even as he described this as the fastest of such activity in the history of the power sector.
…Installs transformers at Kubwa, others
By Chris Ochayi
The Transmission Company of Nigeria, TCN, Tuesday, assured electricity consumers that it was working assiduously towards attaining zero national power grid collapse for the country.
The Acting Managing Director of TCN, Engr. Sule Ahmed Abdulaziz, who gave the assurance at a media briefing in Abuja, recalled how the company recorded fastest recovery of the power grid system after a partial collapse on Wednesday.
Basking in euphoria of record fastest recovery Abdulaziz said “For instance, I can confirm that the grid recovered from the latest system collapse in just 45 minutes.
“This shows the commitment of President Muhammadu Buhari and the Minister of Power, Engr. Sale Mamman towards bequeathing an improved power sector to Nigeria; we are working hard towards zero system collapse.”
The Coalition of Arewa Assembly has decried the alleged move to stop the provision of eligible customers (EC) in the Nigerian electricity market, appealing to President Muhammadu Buhari and his economic team to urgently wade into the matter to avert economic collapse.