Nigeria’s electricity supply recorded a 3.2% decline on Tuesday, sending out a total of 85.56GWh compared to 88.39GWh sent out in the previous day. This is following a similar decline in energy generation.
According to information from the Transmission Company of Nigeria (TCN), Nigeria’s energy generation declined by 3.3% on Tuesday, 24th May 2022 to 86.72GWh, from 89.65GWh recorded on Monday.
Nigeria’s energy generation continues to thread below the minimum 105,000MWh required to record some level of stability in power supply in the country. Notably, Nigerians continue to grapple with epileptic power supply, with multiple grid disruptions recorded so far in 2022, causing widespread blackouts across the country.
Additionally, Nigeria’s energy generation peaked at 3,865.4MW, which is 2% lower than the 3,943.2MW peak recorded on Monday, while off-peak generation rose to 3,487.3MW.
Highlight (24th May 2022)
Peak generation – 3,865.4MW (-2.0%)
Off-peak generation – 3,424.8MW (+1.8%)
Energy generated – 86,721.96MWh (-3.3%)
Energy sent out – 85,563.15MWh (-3.2%)
It is worth noting that the highest frequency for the day was 50.45Hz, while the lowest frequency was 48.7Hz.
Nigerians continue to suffer from epileptic power supply despite significant interventions by the Central Bank in this sector. According to the apex bank, during the press briefing of MPC meeting in May 2022, the bank released N15.71 billion between April and May 2022 to the sector players including GenCos and GasCos under the Nigeria Bulk Electricity Trading Plc. Bringing the total disbursement under the facility to N1.3 trillion.
Similarly, the sum of N22.67 billion was also released to Distribution Companies (DisCos) for their Operational Expenditure (OpEx) and Capital Expenditure (CapEx), under the Nigeria Electricity Market Stabilisation Facility – Phase 2 (NEMSF-2). Cumulative disbursement under the NEMSF-2 currently stands at N251.93 billion.
Why this matters
Electricity is an essential need for many Nigerians and their businesses, especially given the surge in the cost of alternative energy amidst the global energy crisis. The cost of power in the country has gone up and is further exacerbated by constant disruption in electricity supply.
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