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Business News of Thursday, 19 May 2022

Source: www.nairametrics.com

Electricity Update: Energy supply in Nigeria rises to 87,785MWh

Electricity power plant Electricity power plant

Nigeria’s electricity supply rose by 6.5% on Wednesday to 87,785.56MWh compared to 82,402.24MWh recorded in the previous day, which is also the highest daily energy supply in six days.

This is according to information from the Transmission Company of Nigeria (TCN).

The rise in energy supply is following the 6.7% increase in energy generation from 83,446.56MWh recorded on Tuesday, 17th May 2022 to 89,064.87MWh on Wednesday. This implies that 98.56% of the generated energy was supplied by the GenCos.

Meanwhile, despite the growth, Nigeria’s energy generation is still below the minimum 105kMWh required to record some level of stability in power supply in the country as Nigerians continue to grapple with epileptic power supply, with multiple grid disruptions recorded so far in 2022, causing widespread blackouts across the country.

Nigeria’s energy generation on Wednesday peaked at 3,838MW, a 0.9% increase compared to 3,804.4MW recorded on Tuesday, while off-peak generation was stated at 3,552.9MW.

Highlight (18th May 2022)

Peak generation – 3,838MW (+0.9%)
Off-peak generation – 3,552.9MW (+16.3%)
Energy generated – 89,064.87MWh (+6.7%)
Energy sent out – 87,785.56MWh (+6.5%)

It is worth noting that the highest frequency for the day was 50.48Hz, while the lowest frequency was 49.15Hz.

Meanwhile, the Nigerian Electricity Regulatory Commission (NERC) has informed the general public and industry stakeholders through a disclosure that the commission will be commencing the processes for the July 2022 Minor Review of MYTO – 2022 to consider changes in relevant macroeconomic indices, generation capacity and CAPEX required for evacuation and distribution of the available generation capacity in compliance with extant rules

Also, the Transmission Company of Nigeria (TCN) has reported completed work on the 330KV Akure Transmission Substation in Ondo State, which is expected to deliver up to 96MW of electricity.

Why this matters

Electricity is an essential need of many Nigerians and their businesses, especially given the surge in the price of diesel and recent fuel scarcity across the country. The cost of power in the country has gone up and is further exacerbated by constant disruption in electricity supply.

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