Finance

Electricity update: Power generation in Nigeria rise by 2.1% to 85.78GWh


Nigeria generated a total of 86.78GWh on Thursday, representing a 2.3% increase compared to 84.84GWh generated in the previous day. This is according to information from the Transmission Company of Nigeria (TCN).

Also, 85.56GWh of energy was sent out by the Generating Companies, which is 2.1% higher than the 83.79GWh sent out on Wednesday. According to the information from the TCN, 98.6% of the generated energy was sent out.

Nigeria’s energy generation and supply is still 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 (26th May 2022)

  • Peak generation – 3,865.4MW (+4.8%)
  • Off-peak generation – 3,487.3MW (+2.8%)
  • Energy generated – 86,781.96MWh (+2.3%)
  • Energy sent out – 85,563.15MWh (+2.1%)

It is worth noting that the highest frequency for the day was 50.42Hz, while the lowest frequency was 48.7Hz.

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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