References in periodicals archive ?
Beside these two recent visits, which reflect the growing level of confidence that foreign investors have in the ongoing reforms in Nigeria's energy sector in particular, dozens of companies from other countries have declared their intention to invest in the power sector due to the huge opportunities that the privatisation of the nation's electricity body, the Power Holding Company of Nigeria (PHCN), has thrown up for investors.
He stressed that, although PHCN's power plants required 1,617 MCF/day, they were then getting 490 MCF/day from NGC.
At present, more electricity is actually generated by small, privately owned diesel-fired generators than by the PHCN. Even higher grid prices will be cheaper than the power produced by such generators.
IBEDC's Head of Technical Unit, Engineer Carl Aquino, had explained during the commissioning that the substation was designed to deliver power to about 30,000 customers who are affected by the damage done to the substation of PHCN in 2012, adding that as distribution of power progresses, more people would come in to apply as legalised customers and for the pre-paid metering installations.
It would be recalled that prior to now, the Bureau of Public Enterprises (BPE) through the OAGF had paid 47,041 out of the 47,913 active staff of the defunct PHCN in 35 batches and 2,962 out of the 4,423 retirement and death benefits to the beneficiaries in 14 batches.
The old Power Holding Company of Nigeria (PHCN) gas debt is still hanging on the Discos.
Most importantly, his proposals could end the deadlock in the gas sector, by forcing the Power Holding Company of Nigeria (PHCN) to pay a more realistic rate for gas feedstock from the oil majors that dominate the country's oil industry.
From all indications, it is not in doubt that the 11 electricity distribution companies that invested about ?11 trillion to buy the Power Holding Company of Nigeria, PHCN, distribution assets in 2013 are today in deep crisis owing to acute shortage of funds to invest in infrastructure and expand their operation.
The legislative framework proposes breaking up the defunct Power Holding Company of Nigeria (PHCN) and replacing it with 11 regional electricity distribution companies and six generating companies.
Also, ANED argued that; 'It is not likely that TCN, a legacy Power Holding Company of Nigeria (PHCN) entity, with its historical contracting and project management limitations will implement electricity distribution projects better than DisCo investors that have N427 billion ($1.4 billion) of equity and debt invested in the sub-sector, with a motivation to recover their investment.
Acronyms browser ?
Full browser ?
- Phchum Ben
- PhD CT
- PHD Finger Protein 9
- PHD Finger Protein 9