Adebayo, Fagbemi, the Chief Executive Officer of the Nigerian Electricity Liability Management Company (NELMCO) has reported the company’s total inherited liabilities from the privatization of the Nigerian electricity Industry stood at N544 billion as at December 2017. He made this disclosure recently in Abuja as a host to the members of the Power Sector Communication Team (PSCT). According to him, NELMCO was established in 2006 to assume and manage the non-core assets, all liabilities and other obligations that would not be taken over by the successor companies, so that the companies are not encumbered by liabilities at take-off.
IRP Called out on Coal-fired Power Water Costs
The Life After Coal campaign calls for the impact on water resources to be accounted for by the Integrated Resource Plan (IRP), the South Africa’s Plan for the Future Electricity System. The Life After Coal campaign partners, groundwork, and Earthlife Africa, together with Greenpeace Africa have disclosed that they will have no option but to challenge an IRP that fails to adequately take the costs of coal into account, in court. In a statement by the Life After Coal spokesperson, Saul Roux says the Draft IRP (2016) provides cost estimates for different energy technologies but does not include externalities of critical importance for electricity planning. This means that the costs of coal-fired power generation are significantly undercounted. The report shows it is critical for a new draft by the IRP, which Energy Minister Jeff Radebe says will be published shortly and will consider the full range of water-related externalities and impacts in determining and costing South Africa’s future electricity supply mix.
Reps Seek Reversal of Ibadan Electricity Company Director’s Suspension
House of Representatives has called on the Nigerian Electricity Regulatory Commission to rescind the suspension of the executive and non-executive directors of Ibadan Electricity Distribution Company.
The resolution followed a motion under matters of urgent public importance by Rep. Sunday Adepoju (Oyo-APC) on Tuesday at the Plenary in Abuja. He noted the Federal Government’s privatization policy madeIntegrated Energy Distribution and Marketing Limited become a core investor in Ibadan Electricity Distribution Plc and the Yola Electricity Distribution Plc. Adepoju stated that in spite of the expected refund from the PBE, which served as security against the loans, the Integrated Energy Distribution and Marketing Limited in December 2017 reached an understanding with NERC to pay the sum of 150,000,000 monthly to Ibadan Electricity Distribution Company towards the settlement of the loans.