The Nation Newspaper

Tag: KEPCO

  • Ikeja Electric to upgrade customer data

    The Ikeja Electric Distribution Plc,  in conjunction with its technical partner, Korea Electricity Power Limited (KEPCO), has concluded arrangements to enumerate its customers to drive its metering programme.

    The firms signed a contract at the Ikeja Electric’s headquarters in Lagos to kick-start the project.

    Egbin Power  Plc, which KEPCO technically oversees, and Ikeja Electric, are owned by  Sahara Group, an integrated energy firm.

    Director, Sahara Group Mr. Kola Adesina said  the deal would involve mapping the location, coordinating each of the electrical networks, including 132kv/33kv system, 11kv system, distribution transformers and poles.

    It would also involve the indexing of Ikeja Electric’s distribution assets, such as power transformers, feeder pillars, high tension poles and distribution transformers, he added.

    He said: “This is going to be a thorough project that would ensure a solid foundation for efficient, equitable and transparent power supply to our esteemed customers. The customer and consumer indexing will be carried out through door-to-door survey. We are appealing to all our customers and the good people of Lagos to support the project by cooperating with the enumerators and provide accurate information that would empower Ikeja Electric to give the best service possible to all customers.”

    Adesina said that the project would provide a platform for assessing and deploying transformers and electricity equipment required in a community, noteing that this would address challenges faced by customers that would translate to improved power supply.

    He said that the project would ensure effective customer segmentation of high and low density areas and will support seamless update of the company’s customer data base.

    “We are transiting into an era where new technology will drive the campaign against energy theft and distortion of electrical equipment. The signing of the contract with KEPCO would also fast-track effective metering process.With this contract, l can boldly say that the kick-starting of our robust metering project has commenced,” he added.

    The Chief Executive Officer of Ikeja Electric, Abiodun Ajifowobaje, said that the signing of the contract was in compliance with the directive of the Nigerian Electricity Regulatory Commission (NERC) to distribution companies to conduct customer enumeration to update their data base.

    He said the exercise would enable the company upgrade its system for better service delivery.

  • Egbin Power owners eye 2670MW

    Egbin Power owners eye 2670MW

    • Gas supply shortfall cuts generation to 600MW

    The new owners of Egbin Electric Power Plc and Ikeja Electricity Distribution Company (IKEDC), the Sahara Group and its technical partner, Korean Electric Power Corporation (KEPCO) are planning to increase power generation from the power plant to 2,670 megawatts (MW) from the installed capacity of 1320MW.

    The Managing Director, Korea Electric Power Nigeria Limited, Yeom Gyoo Chull, told reporters during a facility tour of the plant that with the handover of the asset to the private sector, the management has been discussing on transformation of the plant and the workers.

    He said the strategy is to restore Egbin to its fully built capacity of 1320MW within the year and build more turbines that will provide additional 1,350MW.

    He said the additional capacity will commence in the next three years and on completion, will bring the combined output to 2,670MW. He noted that their target is to achieve a total capacity of over 10,000MW in the next decade if the demand permits.

    He said: “I represent the Korea Electric Power Corporation (KEPCO) and we are proud to be involved in the power reforms through a Joint Venture between Korean Electric Power Corporation and Energy Resource Limited – managers of the Egbin Power station and New Electricity Distribution Company (NEDC) – managers of the Ikeja Electricity Distribution Company (IKEDC) both members of the Sahara Group.

    “We intend to collaborate with our partners in Nigeria to initially restore Egbin to its fully built capacity of 1320MW within the year and provide additional projected capacity of 1,350MW commencing within the next three years, thus at completion we’ll have 2,670MW, with the aim of achieving a total capacity of over 10000MW in the next decade if the demand permits

    “Kepco is among the largest nuclear power exporting companies and is also involved in every form of generation from wind, thermal, coal, solar, mass, hydro and renewable energy.”

    The Managing Director of Egbin Electric Power Plc, Mike Uzoigwe, said the new company has taken off. “We are quickly retooling ourselves to be business-like. There are business plans that are being discussed at the board level, how we are going forward, a lot of investment coming up, a lot of capacity improvement in the pipeline, a lot of overhaul and repair works and things that we found out that made us not to be our best in the past,” he said.

    He said the board meets more regularly to achieve the planned robust transformation. “The board sometimes meets two times in a month; ordinarily, it doesn’t have to meet that often, but because of what we are coming into the system with, the board has to meet regularly. He said Egbin has the capacity to generate 1080MW, but gas supply constraint has limited output from the plant to just over 600MW.

  • NCP approves sale of Egbin to KEPCO

    NCP approves sale of Egbin to KEPCO

    • Approves lease extension to ENL

    The National Council on Privatisation(NCP) has approved the sale of 70 per cent Federal Government’s shares in Egbin Power Plant to KEPCO Energy Resource at the cost of $407.3million, the Bureau of Public Enterprises  (BPE), has said.

    In a release contained in its- bulletin- Info Privatisation, the BPE asked the firm to pay 51 per cent of the plant’s share currently valued at $670million.

    BPE added that the approval was one of the decisions that the NCP reached during its second meeting in Abuja, this year.

    The Council has directed that the BPE reserves 10 per cent of the plant’s shares ( equivalent of 30 per cent) should be sold to the public through Initial Public Offer (IPO) at a later date.

    The NCP explained that the privatisation of Egbin Power Plc was earlier concluded with KEPCO Energy Resources for the sale of 51 per cent shares via a willing-buyer , willing seller transaction on May 17, 2007 at a price of $280million.

    The bulletin also revealed that the NCP has approved the Supplementary Lease Agreement between ENL Consortium, Nigerian Ports Authority (NPA) and BPE , which gives effect to the extension of the concession of Terminals C and D in Apapa Port to ENL.

  • KEPCO pays $32.7m balance for DISCO

    KEPCO pays $32.7m balance for DISCO

    KEPCO/NEDC Consortium has crossed the hurdle by paying the $32.7million balance of the $131million they are required to pay for the 60 per cent equity for Ikeja Distribution Company. This is coming 15 days after it signed a share purchase agreement with the Federal Government on February 21.

    A source, who spoke in confidence with The Nation, said the consortium made the payment to the Bureau of Public Enterprises on Monday.

    Her words: “KEPCO/NEDC Consortium has paid $32.7million being the 25 per cent balance of $131million they are to pay for 60 per cent  equity for Ikeja Distribution Company. They paid to the Bureau of Public Enterprises (BPE) on Monday.”

    The IKeja DISCOs  was among the firms that signed vesting contract agreements with the Nigerian Bulk Electricity Trading Company Plc.

    The Federal Government also signed vesting contract agreements with  the Nigerian Bulk Electricity Trading Company Plc on February 21 at the Banquet Hall of the State House in Abuja.

    Besides, Chairman National Council on Privatisation (NCP), Mr. Peterside Atedo on the occasion, recalled that to qualify for this signing ceremony, all preferred bidders had to post a bank guarantee for 15 per cent of the transaction value within 15 business day of notification from the BPE.

    He said it was  confirmed and verified from the issuing banks that all the firms that signed had posted such bank guarantees.