Energy
NERC to sanction 7 DisCos over uncapped estimated billing
NERC gives 7 electricity distribution companies a timeframe of 14 days to explain why they should not be sanctioned.
The Nigerian Electricity Regulatory Commission (NERC) has expressed its intention to commence enforcement action against 7 electricity distribution companies (DisCos) over their failure to comply with the orders to cap estimated bills to customers.
This was disclosed by NERC in a tweet post on their official twitter handle on Tuesday, June 9, 2020.
The power sector regulatory agency in its statement said, “The Nigerian Electricity Regulatory Commission has issued notices of intention to commence enforcement action against seven electricity distribution companies over their failure to comply with the order 197/2020 on capping of unmetered R2 and C1 electricity customers’’.
Download the Nairametrics News App
NERC’s order 197/2020 places limits on estimated bills that the DisCos can charge the unmetered consumers of residential (R2) and commercial (C1)
The Nigerian Electricity Regulatory Commission listed the electricity distribution companies involved to include those in Enugu, Eko, Benin, Ikeja, Kano, Kaduna, and Port Harcourt.
READ MORE: Power: NERC applies “brakes” on hike in tariffs
These distribution companies were given a timeframe of 14 days with effect from June 4, 2020, to explain why the regulatory commission should not sanction them over their alleged failure to comply with the order.
The NERC had in February issued order No/NERC/197/2020 on capping of estimated billings in the Nigerian Electricity Supply Industry, thereby placing a cap on estimated bills to unmetered customers.
This was to protect unmetered R2 (Residential single and 3 phase meters, who consume more than 50kwh per month) and C1 (Commercial single and 3 phase meters, small businesses) customers from estimated and arbitrary billing and hopefully hasten the process of metering.
The Nigerian Electricity Regulatory Commission has issued notices of intention to commence enforcement action against Seven electricity distribution companies over their failure to comply with the Order 197/2020 on capping of unmetered R2 and C1 electricity customers.
— NERC Nigeria (@NERCNG) June 9, 2020
The Discos are Benin, Enugu, Eko, Ikeja,Kano, Kaduna and Port Harcourt. @NERCNG @nannews_ng @NTANewsNow @AIT_Online @THISDAYLIVE @TheSun @LeadershipNGA @GuardianNigeria
— NERC Nigeria (@NERCNG) June 9, 2020
The Discos have 14 days beginning from June 4, 2020, to explain why the Commission should not sanction them over their alleged non-compliance. @channelstvbiz @AIT_Online @THISDAYLIVE @MobilePunch @DT_YouthVille @kapitalfm929 @TheSun @LeadershipNGA @NTANewsNow @GuardianNigeria
— NERC Nigeria (@NERCNG) June 9, 2020
Business News
Power Minister explains why power outages have risen
The Minister cited a breakdown of some National Integrated Power Plants supplying electricity to the national grid as being behind the recent power outages.
Business News
BUA Group, French company announce progress in 200,000 bpd refinery project
This is coming about 6 months after both firms signed an agreement for the supply of process technologies and the design of the facility.
The BUA Group and Axens, a French-based petroleum technology company, have both signed a progress acknowledgement statement for the proposed BUA multi-billion-dollar integrated 200,000 barrels per day refinery in Akwa Ibom State.
This is coming about 6 months after both firms signed an agreement for the supply of process technologies and the design of the facility.
BUA, while making the disclosure in a statement on Wednesday, April 14, 2021, said that the French President, Emmanuel Macron, commended its Chairman, Abdul Samad Rabiu, for his commitment to developing lasting relationships between French and Nigerian businesses.
READ: What the $1.5 billion Port Harcourt refinery deal means to us – Maire Tecnimont
The statement said that this came as the French Minister for Foreign Trade and Economic Attractiveness, Franck Riester, paid a visit to the BUA Group Headquarters in Lagos where he handed over a personal invitation from Macron to Rabiu to attend the Choose France Summit in June in Paris representing business leaders from Nigeria and Africa.
The French minister also witnessed the signing of a progress acknowledgement statement between BUA Group and Axens of France for the proposed refinery project, according to the statement.
The statement also said that during the visit, it was announced that the BUA chairman had been appointed Chairman of the France Nigeria Investment Club.
READ: FG reacts to reports of revoking 32 refinery licenses
While thanking the minister and Macron for their unwavering support in bringing BUA and French businesses together, Rabiu said BUA had so far initiated partnerships and had developed personal relationships with a few French businesses, including Axens.
He expressed confidence in the quality of expertise and technical know-how of the French companies BUA had partnered with.
Rabiu pointed out that the BUA refinery would reduce the huge cost of transporting Nigerian crude offshore, refining it and bringing it back into the country when fully operational.
READ: Abdulsamad Rabiu’s stake in BUA Cement has increased by N1.2 trillion in value since listing in 2020
He said that the choice of Akwa Ibom for the refinery was due to the huge availability of raw materials and its proximity to export petroleum products to regional countries.
The President of Axens, Jean Sentenac, in his statement, said he was pleased that the project was advancing on schedule and expressed delight for the very good cooperation between all the involved parties, reiterating the commitment of Axens in delivering the BUA Refinery Project on time and with the highest standards.
READ: FG to open LPG distribution channels in all local governments
Bottom line
The completion and take-off of the refinery owned by the BUA Group would come as a huge boost for the Federal Government’s effort to stop the importation of refined petroleum products, ensuring that the country becomes a net exporter of these products.
This will also help to conserve the scarce foreign exchange as the completion and take-off of the Dangote refinery and other similar refinery projects will help ensure self-sufficiency in the country.
The BUA Group, just a few days ago, was listed as one of the companies with an active refinery license from the Department of Petroleum Resources (DPR).
President Macron lauds Abdul Samad Rabiu as BUA, Axens make progress on BUA’s 200,000bpd Refinery in Akwa Ibom
…Appoints Abdul Samad Rabiu as Chairman of the French Nigeria Investment Club.
Lagos – 14apr2021
./1 pic.twitter.com/tOoOsDW3lZ
— BUA Group (@BUAgroup) April 14, 2021
2 Comments