The Nation Newspaper

Tag: Eko

  • NERC backs Eko, Paras power purchase deal

    NERC backs Eko, Paras power purchase deal

    •Disco to deploy 200,000 meters this year

    The power sector regulator, Nigerian Electricity Regulatory Commission (NERC), has approved the power purchase agreement between Eko Electricity Distribution Company (DisCo) and Paras Energy Resources Limited for embedded generation supply to willing customers, effective from tomorrow.

    The cost of the embedded power will be slightly higher than the normal tariff because it is for a dedicated set of customers. Such customers may have the privilege of enjoying uninterrupted supply as long as generators are functional.

    The company also said it would deploy over 200,000 smart meters for installation for the various categories of customers in its network as the new electricity tariff has commenced.

    The Managing Director, Dr Oladele Amoda told reporters during an interactive session in Lagos that DisCos prefer metering customers to estimation billing contrary to labour unions’ belief that DisCos prefer billing customers on estimation than metering them.

    Amoda said: “We decided to show the media and the world that we have embarked on massive metering of our customers contrary to the statement of the labour unions that we prefer billing customers on estimation than metering. Eko DisCo has ordered for large quantity of meters to install for its teeming customers as directed by NERC to ensure that all customers are metered within the next five years.”

    He said the company has taken delivery of over 76,000 smart meters, while 100,000 meters are still being expected for delivery by Mojec meter manufacturing company in the next three months.

    He said: “We are trying to ensure that we install 200,000 smart meters between the second quarters and December 2016, having installed about 46,000 meters to date. We are patronising local meter manufacturers, and they have promised to meet the delivery timeframe to enable us meet our customers’ mandate.

    “We contracted our Maximum Demand (MD) meters to Atron of France because it’s for large consumers while indigenous contractor concentrate on three- phase and single phase meters. We have ordered for 7,500 MD meters but taken delivery of 3,000, while we have been promised to deliver the balance before end of the year.”

    Amoda said the new smart meters would address the challenges confronting the company, especially meter by-pass by customers, energy thieves and other related criminal activities. He said the technology in smart meters would inform the workers in the office when customers tamper with the meters, adding that every customer would be metered before the stipulated five years directed by NERC.

    “We have invested about $15 million about N3 billion on MD meters, while about N52 billion would be spent on smart metering within the next three years. Every meter is duly certified before usage, we have been with the local manufacturers for a while and they have been doing their best.

  • Eko DisCo promises meters

    Eko DisCo promises meters

    The Eko Electricity Distribution Company (EKEDC) is committed to providing meters to its customers, irrespective of the challenges in the sector, its Chief Operating officer, Sam Nwaire, has said.

    He said the Federal Government gave the power distribution companies (DisCos)  a five-year term  (2013-2018)  to supply meters to their customers, adding that the problems in the industry  have prevented many firms from meeting the date.

    He said: “The Federal Government gave a five-year term for the supply of meters to the DisCos. The agreement was signed in November 2013, but the date was brought back to November 2014 due to some problems in the industry.’’

    Speaking during a stakeholders’ forum in Lagos, he said EKEDC is customer-centric, adding that the firm is doing its best to solve the metering problems and provide electricity to its customers. “We operate an open-door policy, as evident in the ways and manners we listen to our customers and attend to their needs after we have investigated their claims.  We have introduced a number of measures in order to satisfy our customers. They include providing meters, transformers and other equipment to them,” he added.

  • Eko Hotel, Intercontinental, Wheat Baker ranked among best in Lagos

    Winners for the Top 100 Hotels in Lagos organised by Travellers Magazine, West African’s foremost travel journal have emerged after a 2 month long survey of Travellers and Travel trade practitioners in Nigeria.

    Eko Hotel, emerged as the best ranked hotel in Lagos, while Intercontinental and Wheat Baker emerged second and third best ranked hotels respectively.

    The survey for the top 100 hotels was done over two months through personal questionaire survey of Hotel managers and secret vote by Travel Journalists  in Lagos and online voting.The online  voting was done via the largest travel news website in Africa  www.atqnews.com. Questionnaires were delivered as newsletters to over 25000 people globally and the votes were collated using the Survey Monkey software. Each voter was asked to rank the top 15 Hotels out of all the leading hotels in Lagos giving reasons for the ranking.

    At the end of the survey,  the hotels were now arranged according to the number of high ranks they had garnered.  Eko hotel had the highest number of number one votes in all the  collated votes while other hotels on the top 25 list did well as number 2 and number 3 ranked hotels. Other hotels that did very well in the ranking includes Oriental Hotel, 4 points by Sheraton, Southern Sun hotel, Sheraton Ikeja hotel, Federal Palace hotel, Radisson Blu, Bogobori Hotel  Westwood, The Protea hotels and Golden Tulip Festac.

    The ranking for these hospitality providers were based on the perceived service rendered, Location, facilities, and capacity of the hotels. The not so popular new players on the Top 25 list include The George in Ikoyi,  Genesis Sojourner in Ikeja , Fahrenheit Maison in Victoria Island,  Ibis Hotel Toyin street, The Best Western hotels,  Welcome centre and Admiralty Hotel Lekki.

    The Full results for the Top 100 hotel in Lagos will be published in  Travellers magazine, and will be carried on www.atqnews.com, It will also be shared on different social media platforms.

    Travellers Magazine will be presenting certificates to the Top 100 Hotels at the Hospitality Day on the 24thNovember 2015 at the 11th AKWAABA Travel Market at Eko Hotel.

  • Why vandalism thrives, by Eko DISCO chief

    Pipeline vandalism occurs because of the way the pipelines were constructed, and failure of the Federal Government to develop the communities that play host to the pipelines, the Managing Director/Chief Executive officer, Eko Electricity Distribution Company (EKEDC), Oladele Amoda, has said.

    Amoda said poor location of the pipelines, and the low level of development of the host communities are the two major reasons that make people to break pipelines, without considering its socio-economic implications to the country.

    He said the pipelines were too close to each other, coupled with the fact that the host communities are aggrieved that the government has abandoned them by not providing infrastructural facilities in their areas to create a better life for them.

    Amoda, who was represented by his Technical Assistant, Muyiwa Akinkemi, at a stakeholders’ forum in Lagos, said the pipelines were too close to each, arguing that it is easier to break two or three pipelines at once, without letting people around know.

    Speaking on the topic ‘Ways of mitigating pipeline vandalism in Nigeria’,Akinkemi said the menace would reduce once the Federal Government and other stakeholders in the oil and gas value chain come together to fashion out ways of addressing the problem.

    He said the government and the stakeholders must discuss the modalities of adjusting the ways the pipelines were located and also provide social amenities for the communities where the pipelines were sited.

    He said: “Two problems made people to break gas pipelines.  First is the issue of collocation, which is about the location or the positioning of the pipelines.  The second one is lack of infrastructure and job opportunities in the communities that host the pipelines.  The questions begging for answers are: why are pipelines located close to each other in Nigeria?  Why is that pipelines were built few metres, and not hundreds of kilometres to each other.’’

    He said the menace would reduce, once the problems, such as location of the pipelines and infrastructure, were addressed by the government. Amoda urged the government to develop the communities that are hosting the pipelines, and not their leaders.

     

     

    He said when the communities are developed, many people would benefit, noting that few people benefit when leaders in the communities are developed by way of giving them money.

    He said the perennial gas problem in the power sector can be addressed, when people stop breaking pipelines, adding that power supply will stabilise once the turbines were able to access enough gas for generation.

  • Ethnic all the way

    Ethnic all the way

    LOOKING good is defined by you rout look as well as the statement that you want to make. These days the ethnic look reigns supreme. Its natural and appealing thanks to the dexterity of our designers. Apart from the creative outfit’s designs, they also make accessories that are stunning.

    Recently, Dayo Babatunde a model, fashion designer and chief executive officer, daayo’s collections, a topnotch modeling agency breeding young models in the sprawling city of Surulere, Lagos churned out some wonderful ethnic stuff.

    Here she engaged ten trained professional models in a pool party fashion show, where she displayed 40 outfits of African fabrics at Maddox club opposite Eko hotel& suites, Victoria Island, Lagos.

    Over the years, her collections had made impact in the west coast, Europe and the rest of the world displaying African fabrics, she concluded.

  • Abdulsalami’s group loses Eko, Ikeja power firms

    Abdulsalami’s group loses Eko, Ikeja power firms

    NCP gives preferred bidders 15-day ultimatum

     

    Integrated Energy Distribution and Marketing – a firm promoted by former Head of State Gen. Abdulsalami Abubakar – yesterday lost out as the core investor in the Eko and Ikeja electricity distribution companies.

    The company was named the core investor for four of the 10 electricity distribution firms (DISCOs) put up for sale by the National Council for Privatisation (NCP).

    The two are the most lucrative of the firms.

    But yesterday, when the NCP renamed the preferred bidders for the privatised firms, it gave only the Ibadan and Yola distribution firms to Integrated Energy Distribution and Marketing firm.

    NCP Technical Committee chairman Mr. Atedo Peterside announced the preferred bidders in Abuja on behalf of the Federal Government.

    Government also announced the preferred bidders of the electricity generation companies, bringing the privatisation of the power sector into a milestone.

    There are stringent conditions for the preferred bidders.

    New Electricity Distribution Company (NEDC/ICEPCO) is the preferred bidder for Ikeja Distribution Company. West Power and Gas is the preferred bidder for the Eko Distribution Company.

    Vigeo Power Consortium, besides winning the Benin Disco, is the reserved bidder for Ikeja Disco. Its contender for Benin Disco – Southern Electricity Distribution Company – was disqualified for submission of multiple bids.

    Oba Otudeko’s Honeywell Energy Resources International Limited is the reserve bidder for Eko Disco.

    Sir Emeka Offor’s Interstate Electrics Limited beat Eastern Electric Nigeria Limited, owned by the five South eastern states, which was approved as the reserved bidder for the Enugu Disco.

    The Afam Generation Company and Kaduna Distribution Company are yet to get preferred bidders.

    The five generating companies also got preferred bidders.

    The process, however, drew criticisms from some quarters.

    At the sixth meeting of the council yesterday, successful bidders were given 15 days to make financial commitments through their banks.

    The companies are expected to be handed over to the preferred bidders at the conclusion of the transaction within the next six months at which the companies are expected to have made full payment.

    Besides, NCP disqualified Southern Electricity Distribution Company for submission of multiple bids for Benin Disco.

    Amperion Power Distribution Company Limited with a bid of $132,000,000, is the preferred bidder for the core investor sale of 51% shares of Geregu Power Plc.

    Mainstream Energy Solutions Limited, which offered an annual fee of $50,760,665.18 and a commencement fee of $257,000,000, is the preferred bidder for Kainji Hydro Power Plc.

    For Shiroro Hydro Power Plc, NCP approved that North-South Power Ltd which offered an annual fee of $23,602,484.87 and a commencement fee of $111,654,534, is the preferred bidder.

    The privatisation body also approved that Transcorp/Woodrock/Sumbion/Medea/PSL/ Thomassen with a bid of $300,000,000, is the preferred bidder for the Ughelli Power Plc.

    Amperion Power Distribution Company Limited with a bid of $252,000,000 is the reserved bidder for the Ughelli Power Plc.

    CMEC/EURAFRIC Energy JV Consortium is the preferred bidder for the Sapele Power Plc. It bidded $201,000,000.

    JBN-NESTOIL Power Services Ltd, with a bid of $106,500,000 is the reserved bidder for the Sapele Power Plc.

    Amperion is the preferred bidder for Geregu Power Plc. The Feniks Electricity Limited is the reserved bidder for Ughelli Power Plc, subject to their bid being revised to match the reserved price.

    For the Distribution Companies (DISCOs) in which 60 % sales was approved, the preferred and reserved bidders are: Abuja Distribution Company: KANN Consortium Utility Company Ltd as preferred bidder; Benin Distribution Company: Vigeo Power Consortium as the preferred bidder;

    Eko Distribution Company: West Power & Gas is the preferred bidder;

    Honeywell was approved as the reserved bidder; Enugu Distribution Company: Interstate Electrics Ltd is the preferred bidder; Eastern Electric Nigeria Ltd was approved as the reserve bidder; Ibadan Distribution Company: Integrated Energy Distribution & Marketing Ltd is the preferred bidder;

    NEDC/KEPCO was approved as the reserved bidder; Ikeja Distribution Company: New Electricity Distribution Company (NEDC)/KEPCO is the preferred bidder; Vigeo Power Consortium is the reserved bidder; Jos Distribution Company: Aura Energy Ltd as the preferred bidder

    Kano Distribution Company: Sahelian Power SPV Ltd is the preferred bidder; Port Harcourt Distribution Company: 4Power Consortium is the preferred bidder; Yola Distribution Company: Integrated Energy Distribution & Marketing Ltd is the preferred bidder.

    Peterside, with whom is Mrs. Bola Onagoruwa, Director General, Bureau for Public Enterprises (BPE), at the end of the council meeting which was presided over by Vice President Namadi Sambo, said the council also approved the next steps for the conclusion of the privatisation of the generation and distribution companies.

    He said: “After the approval of the results of the financial bids by Council, the highest ranked bidder for each Generation or Distribution Company will be required to post an additional bid security (“Preferred Bidder’s Bank Guarantee”) in the form of a Letter of Credit or Bank Guarantee for 15 per cent (15%) of the transaction value within fifteen (15) business days of notification from the Bureau of Public Enterprises.

    The Preferred Bidder’s Bank Guarantee shall be from a Standard & Poor (S&P) or Moody & Fitch “A” rated foreign bank with a correspondent bank in Nigeria or a Nigerian bank rated “A” by a Rating Agency approved by SEC and be valid through 21, calendar days after the stipulated proposal validity period or any extended proposal validity period.

    “The designated Preferred Bidder will be invited for negotiations with BPE. Within 15 business days after signing of the Sale and Purchase Agreement, the Shareholders’ Agreement or the Performance Agreement ‘whichever is earlier, or at a mutually agreed earlier time, the Bidder shall make a down payment of 25% of the share purchase price.

    “Within six months after signing of the Sale and Purchase Agreement or the Shareholders’ Agreement, whichever is earlier or mutually agreed upon time, the Bidder will be required to pay the outstanding 75% of the share purchase price to complete the transaction. Upon receipt of payment, the Preferred Bidder’s Bank Guarantee will be returned to the bidder within a maximum of four weeks.

    “After the completion of payment, the handover of the successor company to the Preferred Bidder will conclude the transaction.”