Nigerian Electricity Supply Industry (NESI) has revealed on Wednesday, June 1, that power generation plummeted to 1,936.90 Mega Watts from 3,647MW two days ago.
According to Vanguard’s grid generation data, there were 16 power generation plants on the national grid as of 4 p.m., with Delta (gas) having the largest capacity at 332 MW. Egbin Power, the country’s largest generating plant, went completely off the grid.
Other power plants on the grid were Alaoji NIPP (107.10MW), Geregu (200MW), Geregu NIPP (90MW), Ibom Power (25.40MW), Ihovbor NIPP (80.50MW), Jebba Hydro (172MW), Kainji Hydro (113MW), Odukpani NIPP (207.90MW), Omoku (50MW), Omotosho (94.90MW), Para Energy (44.20MW).
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Also on the grid were Rivers IPP (160MW), Sapele (53MW), Sapele NIPP (94.90MW), and Shiroro Hydro (122MW).
Nigerian Electricity Regulatory Commission, NERC, issued a notice of minor review of the Multi-Year Tariff Order notwithstanding the operator’s poor performance (MYTO).
The letter arrived two weeks after the Commission announced higher power tariff rates, which went into effect on February 1, 2022.
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NERC stated in a notice signed by its Chairman, Engr. Sanusi Garba, and posted on its official website that the evaluation would not necessarily result in a rate hike.
It reads;
Pursuant to the provisions of the Electric Power Sector Reform Act (EPSRA), the Nigerian Electricity Regulatory Commission adopted the Multi-Year Tariff Order (MYTO) Methodology in setting out the basis and procedures for determination of licensees revenue requirements and review of electricity tariffs in Nigeria.
The methodology provides for Minor Reviews (every 6 months), Major Reviews (every 5 years), and Extraordinary Reviews in instances where industry parameters have changed significantly from those used in the operating tariffs to such an extent that a review is required urgently to maintain the viability of the electricity industry.
“We wish to clarify that such reviews do not automatically translate to an increase in tariffs. Indeed where the impact of improved efficiency in operating parameters for individual licensees exceeds the impact of changes in macroeconomic parameters, end-users may be reduced as exhibited in some tariff classes under MYTO2022
