Federal Government Licenses Six Additional Companies To Distribute Power …C0NTINUE READING HERE >>>
The Federal Government issued new licences for Independent Electricity Distribution Networks (IEDNs)Although the IEDN model has generated pushback from state governors, FG insists it will help address the power supply issues.The Independent Electricity Distribution Networks is different from the 11 power distribution companies
...CLICK HERE TO CONTINUE READING> >
Henzodaily.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Data from the Nigerian Electricity Regulatory Commission (NERC) has revealed that six electricity firms were issued licences in 2023 as part of ongoing efforts to improve power supply in the country,
The licences were given under the Independent Electricity Distribution Network.
Nigeria get new electricity companies
Photo credit: Pius Utomi Ekpei
Source: Getty Images
The Nigerian Electricity Regulatory Commission (NERC) explained that the networks were designed to operate independently of the main transmission system, providing electricity on a smaller scale to specific areas or communities.
“Here are the issues”: Ammban speaks as deadline nears for banks to block accounts POS accounts
The commission added that developing independent electricity distribution networks is a viable solution for enhancing electricity access and reliability in Nigeria.
Breakdown of the licence issuance
According to the commission, in the first quarter of 2023, it authorised the issuance of two new Independent Electricity Distribution Network (IEDN) licenses and an existing IEDN license amendment.
In the second quarter of 2023, the commission did not issue licenses for power distribution networks but stated that it issued two new trading licenses in 2023/Q2, Punch reports.
In the third quarter, one license was given for the establishment of a new Independent Electricity Distribution Network, and one was a license renewal for an IEDN.
It issued three licenses for new Independent Electricity Distribution Networks in the fourth quarter.
NERC also gave other licenses, permits, and certifications, including for Meter Service Providers and Meter Asset Providers.
MSMEs struggle under high interest rates”: CSED calls for efficiency through digital solutions
It is important to note, however, that the six new independent licenses for electricity distribution in Nigeria are distinct from the 11 privatized power distribution companies that emerged from the unbundling of the Power Holding Company of Nigeria in November 2013.
List of communities affected by new electricity tariff
Meanwhile, Henzodaily.ng reported the areas affected by the new electricity tariff in some areas in Lagos state.
Those affected are to adjust to the new tariff even as the electricity company has started informing them.
Ikeja Electric has released a list of communities under Band A as well as those under Band B, C, D and E.
Source: Henzodaily.ng
...CLICK HERE TO CONTINUE READING> >
>