- Electricity Generation Averages 3,687mw in Q1’17
The power generation statistics for first quarter 2017, (Q1’17) shows that a total average of 3,687 megawatts, mw, of energy was generated by power stations as Afam VI Power Plant contributed about 12.64 percent of the total, the highest generation among the twenty-three (23) power plants within the period under review.
Daily energy generation attained a peak of 5,846 megawatts, MW, January 24, while daily energy sent out on same date was 5,747 MW. Similarly, the highest daily energy generated per hour attained a peak of 140,316 megawatts per hour, MWh on the January 24, 2017 and daily energy sent out per hour on same date was 137,920 MWh.
This represents the highest level of energy generated and sent out in the month of January 2017 and in Q1 2017. However, the lowest daily energy generation, 1,660 MW, in the month of January 2017 and in Q1 2017 was attained on January 18, 2017 and daily energy sent out on that date was 1,618 MW.
The lowest daily energy generation per hour was also attained on same date. 39,837 MWh was generated and 38,831 MWh was sent out. In February 2017, daily energy generation attained a peak of 4,279 MW on February 21, 2017 and daily energy sent out on same date was 4,217 MW. Similarly, the highest daily energy generated per hour in the month under review attained a peak of 102,705 MWh and daily energy sent out per hour on same date was 101,208 MWh.
Nevertheless, daily energy generation attained its lowest of 2,915 MW in the month of February on February 1, 2017 and daily energy sent out on same date was 2,869 MW. Similarly, the lowest daily energy generation per hour was also attained on same date. 69,962 MWh was generated and 68,847 MWh was sent out.
Lowest Daily Energy Generation
Daily energy generation in March 2017 attained a peak of 4,156.03MW on March 9, 2017 and daily energy sent out on same date was 4,096 MW. Similarly, the highest daily energy generated per hour attained a peak of 99,732 MWh on March 9, 2017 and daily energy sent out per hour on same date was 98,300 MWh.
The lowest daily energy generation attained in March 2017 was 3,496 MW and the lowest daily energy sent out of 3,441 MW was attained on March 16, 2017.
Likewise, the lowest daily energy generation per hour was also attained on same date. 83,790 MWh was generated and 82,580 MWh was sent out.
Meanwhile, The 11 electricity Distribution Companies, DISCOs, operating under aegis of Association of Nigerian Electricity Distributors, ANED, yesterday, criticized Federal Government’s failure to provide the N100 billion subsidy it promised after private investors took over about 18 power sector utilities on November 1, 2013.
The DISCOs also faulted the poor funding for the transmission section of the sector, which they said has resulted in the huge load rejection cases.
A statement issued through umbrella body, ANED, said government which holds 40 per cent equity in the utilities stated many interventions in the Performance Agreement of DISCOs with the Bureau of Public Enterprises, BPE.
ANED’s Director of Advocacy and Research, Barrister Sunday Oduntan, said “To date, the government has not met the privatization transaction foundational requirements of providing N100 billion in subsidies; payment of MDA electricity obligations; ensuring that the DISCos have debt free financial books; and implementing a cost reflective tariff,” it said.
On transmission constraints, ANED doubted if the N50 billion appropriated for Transmission Company of Nigeria, TCN in the 2016 budget was released by half adding that, “This funding level is even more pitiful when, especially, measured against TCN’s estimate of $7.5 billion for its five-year expansion plan that is expected to take us to 10,000 megawatt (mw), from our current 4,500mw.”
The DISCOs said they can only recover their costs when they have more energy delivered by the Transmission Company of Nigeria, TCN, in the area where they have customers. “Should the DISCOs have to suffer financial losses due to the limitations associated with TCN’s wheeling constraints? They queried in the statement.
ANED said TCN which is still a public utility “has remained underfunded over several decades. Such limited or underfunding has resulted in poor transmission infrastructure and planning, with the consequences of grid instability and limited wheeling capacity, adversely impacting the distribution and generation of electricity.”
They decried the continued dearth of TCN funding saying it impedes the DISCOs’ ability to distribute power and has led to crashes in power turbines of Generation Companies, GENCOs, due TCN consistent requests for de-loading.
Communities in Delta State Shut OML30 Operates by Heritage Energy Operational Services Ltd
The OML30 operated by Heritage Energy Operational Services Limited in Delta State has been shut down by the host communities for failing to meet its obligations to the 112 host communities.
The host communities, led by its Management Committee/President Generals, had accused the company of gross indifference and failure in its obligations to the host communities despite several meetings and calls to ensure a peaceful resolution.
The station with a production capacity of 80,000 barrels per day and eight flow stations operates within the Ughelli area of Delta State.
The host communities specifically accused HEOSL of failure to pay the GMOU fund for the last two years despite mediation by the Delta State Government on May 18, 2020.
Also, the host communities accused HEOSL of ‘total stoppage of scholarship award and payment to host communities since 2016’.
The Chairman, Dr Harrison Oboghor and Secretary, Mr Ibuje Joseph that led the OML30 host communities explained to journalists on Monday that the host communities had resolved not to backpedal until all their demands were met.
Crude Oil Recovers from 4 Percent Decline as Joe Biden Wins
Oil Prices Recover from 4 Percent Decline as Joe Biden Wins
Crude oil prices rose with other financial markets on Monday following a 4 percent decline on Friday.
This was after Joe Biden, the former Vice-President and now the President-elect won the race to the White House.
Global benchmark oil, Brent crude oil, gained $1.06 or 2.7 percent to $40.51 per barrel on Monday while the U.S West Texas Intermediate crude oil gained $1.07 or 2.9 percent to $38.21 per barrel.
On Friday, Brent crude oil declined by 4 percent as global uncertainty surged amid unclear US election and a series of negative comments from President Trump. However, on Saturday when it became clear that Joe Biden has won, global financial markets rebounded in anticipation of additional stimulus given Biden’s position on economic growth and recovery.
“Trading this morning has a risk-on flavor, reflecting increasing confidence that Joe Biden will occupy the White House, but the Republican Party will retain control of the Senate,” Michael McCarthy, chief market strategist at CMC Markets in Sydney.
“The outcome is ideal from a market point of view. Neither party controls the Congress, so both trade wars and higher taxes are largely off the agenda.”
The president-elect and his team are now working on mitigating the risk of COVID-19, grow the world’s largest economy by protecting small businesses and the middle class that is the backbone of the American economy.
“There will be some repercussions further down the road,” said OCBC’s economist Howie Lee, raising the possibility of lockdowns in the United States under Biden.
“Either you’re crimping energy demand or consumption behavior.”
Nigeria, Other OPEC Members Oil Revenue to Hit 18 Year Low in 2020
Revenue of OPEC Members to Drop to 18 Year Low in 2020
The United States Energy Information Administration (EIA) has predicted that the oil revenue of members of the Organisation of the Petroleum Exporting Countries (OPEC) will decline to 18-year low in 2020.
EIA said their combined oil export revenue will plunge to its lowest level since 2002. It proceeded to put a value to the projection by saying members of the oil cartel would earn around $323 billion in net oil export in 2020.
“If realised, this forecast revenue would be the lowest in 18 years. Lower crude oil prices and lower export volumes drive this expected decrease in export revenues,” it said.
The oil expert based its projection on weak global oil demand and low oil prices because of COVID-19.
It said this coupled with production cuts by OPEC members in recent months will impact net revenue of the cartel in 2020.
It said, “OPEC earned an estimated $595bn in net oil export revenues in 2019, less than half of the estimated record high of $1.2tn, which was earned in 2012.
“Continued declines in revenue in 2020 could be detrimental to member countries’ fiscal budgets, which rely heavily on revenues from oil sales to import goods, fund social programmes, and support public services.”
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