Nigeria faced a stark Week-on-Week lapse in its power supply, with a notable 16.4% drop in electricity generation, now standing at 3,501.20 megawatts (MW) instead of the 4,187.6 MW recorded just a week ago on Thursday.
Findings from Africa Today News, New York’s examination point to a confluence of reasons behind the situation, prominently featuring the ailing state of power plants and the inadequate gas supply to thermal facilities.
In response to the situation, the Electricity Distribution Companies (DISCOs) have initiated load shedding as a means to disperse the restricted electricity among a larger consumer base, albeit at different times.
In response to the ongoing situation, the Nigerian Electricity Regulatory Commission (NERC) released a statement confirming that eleven electricity distribution companies (DISCOs) have sought a rate review through formal applications, indicating the possibility of changes in electricity tariff structures.
NERC’s rationale behind the request for rate review lies in the necessity to integrate alterations in macroeconomic indicators and other influential factors impacting the companies’ service quality, operations, and long-term viability.
Read also: Group Frowns At Proposed 40% Electricity Tariff Hike
In a strategic business manoeuvre, Powercom Smart Grid Nigeria (PSGN) has triumphantly acquired Kano Electricity Distribution Plc (KEDCO), promising new opportunities for the power industry.
Within the Powercom conglomerate, PSGN stands out as the dedicated arm, excelling in the delivery of end-to-end Smart Grid/Smart Metering turnkey solutions.
A statement provided by PSGN to Newsmen emphasises the strategic importance of the acquisition for KEDCO, offering the perfect backdrop to execute a comprehensive turnaround plan that targets performance and efficiency enhancements.
It reads: ‘PSGN Turnaround Plan encompasses a strategic approach to address the challenges faced by KEDCO and transform it into a highly efficient and financially viable electricity distribution company supporting 5 million customers.’
‘The plan focuses on revenue enhancement, operational performance optimization, revenue collection, customer service, and overall system reliability.PSGN will supply KEDCO smart electricity endpoints including the full backbone infrastructure to manage the grid.’
‘The project is meant to upgrade the existing distribution grid into a modern platform, addressing services such as: Revenue Enhancement, Reduction of Energy Losses, Debt Recovery, Reduction of Outages, Grid Optimization, Asset Recording, Asset Protection, Peak Load Management; Workforce Automation, reducing operational expenditure and improving customer service. PSGN ‘turnkey’ solution includes the Vending Platform and a Control Room with GIS visualization for grid management.’
This acquisition aims to upgrade the existing distribution grid into a modern platform, providing smart electricity endpoints and infrastructure for efficient grid management.