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Business News of Tuesday, 12 July 2022

Source: www.nairametrics.com

Electricity update: Power supply in Nigeria improves to 89,393MWh

Electricity supply Electricity supply

Nigeria’s electricity supply improved to 89,393.08MWh on Monday, 11th July 2022, representing a 2.2% increase compared to 87,487.83MWh recorded in the previous day. This is according to information from the Transmission Company of Nigeria (TCN).

The improvement in electricity supply is following a 2.1% increase in power generation to 90,621.28MWh on Monday, compared to 88,718.95MWh of energy that was generated on Sunday. This implies that 98.64% of the total power generated was sent out to Distribution Companies.

Despite the increase, electricity generation and supply in Nigeria is still crippling below the minimum 105,000MWh of electricity required to record stable power supply in the country.

Energy generation peaked at 4,022.2MW on Monday, while off-peak generation was stated at 3,532.3MW. The highest frequency recorded during the day was 50.86Hz while the lowest was 49Hz.

Highlight (11th July 2022)
Peak generation – 4,022.2MW (+2.9%)
Off-peak generation – 3,521.3MW (+8.5%)
Energy generated – 90,621.28MWh (+2.1%)
Energy sent out – 89,393.08MWh (+2.2%)

Nigeria’s electricity generation improves to 92.7GWh, highest in over 2 months

Nigeria’s electricity generation rose to its highest level in over two months on Friday, 8th July 2022 reaching a total generation of 92.71GWh from 90.69GWh recorded on Thursday. The last time the Power Generation companies recorded this much was 4th May 2022.

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

In the same vein, electricity supply also rallied significantly on Friday to 91.45GWh compared to 89.44GWh that was sent out the previous day, Notably, 98.63% of the power generated on Friday was sent out to distribution companies.

Despite the increase, electricity generation and supply in Nigeria is still crippling below the minimum 105,000MWh of electricity required to record stable power supply in the country.

Energy generation peaked at 4,102.4MW on Friday, while off-peak generation was stated at 3,567.1MW. The highest frequency recorded during the day was 50.86Hz while the lowest was 59.12Hz.

Highlight (8th July 2022)
Peak generation – 4,102.7MW (+2.9%)
Off-peak generation – 3,567.1MW (-1.3%)
Energy generated – 92,712.03MWh (+2.2%)
Energy sent out – 91,446.17MWh (+2.2%)

Electricity supply in Nigeria rises to highest in over a month at 85,874MWh

Nigeria’s electricity supply rose by 7.11% to 85,874.18MWh on Wednesday, 6th July 2022, representing the highest electricity supply in over one month. This is according to information from the Transmission Company of Nigeria (TCN).

The increase in energy supply is following a 6.96% energy generation from 81,310.5MWh recorded on Tuesday to 86,967.76MWh on Wednesday. According to the information from TCN, 98.74% of the energy generated was distributed to the DisCos.

Similarly, peak generation increased by 1.96% to 3,800.6MW, while off-peak generation stood at 3,457.5MW, representing a 9.47% rise compared to the previous day. Despite the increase, electricity generation and supply in Nigeria is still crippling below the minimum 105,000MWh of electricity required to record stable power supply in the country.

Highlight (6th July 2022)
Peak generation – 3,800.6MW (+1.96%)
Off-peak generation – 3,457.5MW (+9.47%)
Energy generated – 86,967.76MWh (+6.96%)
Energy sent out – 85,874.18MWh (+7.11%)

The highest frequency for the day was 50.39Hz, while the lowest frequency was 49.07Hz.

Electricity update: Power supply in Nigeria drops to 75,641.98MWh

Nigeria’s electricity supply dipped on Sunday, 3rd July 2022 by 3.9% to 75,641.98MWh compared to 78,726.11MWh sent out to distributing companies during the previous day. This is following a 4.1% decline in energy production to 76,659.42MWh on Sunday.

Specifically, total energy generated on Sunday was 4.1% lower than the 79,955.89MWh generated on Saturday. This is according to information from the Transmission Company of Nigeria (TCN).

Similarly, peak generation dropped by 5.6% to 3,346.3MW, while off-peak generation stood at 2,998.8MW, representing a 5.9% decline compared to the previous day. Meanwhile, 98.67% of the total energy generated was supplied to DisCos on Sunday.

Electricity generation and supply in Nigeria is still crippling below the minimum 105,000MWh of electricity required to record stable power supply in the country.

Electricity update: Nigeria’s power generation peaks at 3,687.3MW
Nigeria’s electricity generation peaked at 3,687.3MW on Wednesday, falling by 4.6% compared to 3,865.4MW recorded during the previous day. This is according to information from the Transmission Company of Nigeria (TCN).

According to the information on the website, off-peak energy generation also declined by 2.7% to 3,393MW on Wednesday. Meanwhile, Nigeria recorded a total energy generation of 84,840.74MWh, which is 2.2% lower than the 86,721.96MW generated in the previous day.

In the same vein, energy supply recorded a 2.1% reduction from 85,563.15MWh recorded on Tuesday to 83,795.82MWh.

Nigeria’s energy generation continues to thread below the minimum 105,000MWh required to record some level of stability in power supply in the country. Notably, Nigerians continue to grapple with epileptic power supply, with multiple grid disruptions recorded so far in 2022, causing widespread blackouts across the country.

Highlight (25th May 2022)
Peak generation – 3,687.3MW (-4.6%)
Off-peak generation – 3,393MW (-2.7%)
Energy generated – 84,840.74MWh (-2.2%)
Energy sent out – 83,795.82MWh (-2.1%)

It is worth noting that the highest frequency for the day was 50.41Hz, while the lowest frequency was 49.01Hz.

Nigerians continue to suffer from epileptic power supply despite significant interventions by the Central Bank in this sector. According to the apex bank, during the press briefing of the MPC meeting in May 2022, the bank released N15.71 billion between April and May 2022 to the sector players including GenCos and GasCos under the Nigeria Bulk Electricity Trading Plc. Bringing the total disbursement under the facility to N1.3 trillion.

Similarly, the sum of N22.67 billion was also released to Distribution Companies (DisCos) for their Operational Expenditure (OpEx) and Capital Expenditure (CapEx), under the Nigeria Electricity Market Stabilisation Facility – Phase 2 (NEMSF-2). Cumulative disbursement under the NEMSF-2 currently stands at N251.93 billion.

Why this matters

Electricity is an essential need for many Nigerians and their businesses, especially given the surge in the cost of alternative energy amidst the global energy crisis. The cost of power in the country has gone up and is further exacerbated by constant disruption in electricity supply.

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