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‘Expect a ‘Boom and Bust’ electricity cycle from 2014 ‘

Bagnall who disclosed this at his office in the PHCN Corporate Headquarters, Abuja, as he spoke to Daily Trust on his  expectations in the electricity…

Bagnall who disclosed this at his office in the PHCN Corporate Headquarters, Abuja, as he spoke to Daily Trust on his  expectations in the electricity market for 2014, stated that a ‘Boom and Bust’ cycle which is being experienced in the North American market is  expected to be achieved in Nigeria.
He said:  “There is intense competition among the generators in the North American market resulting in that cycle. They would build many generations plants to meet demand and it becomes in excess for a while.”
Bagnall noted that although the boom will cause a bust in the transmission section as it lacks adequate capacity to evacuate the additional generation, it will lead to more investments in the network, adding that the Least Cost Dispatch (LCD) rate for the Distribution Companies will change to ensure reduction of electricity bills.
 Meanwhile, Chairman of the Nigerian Electricity Regulatory Commission (NERC), Dr Sam Amadi, has called on the Transmission Company of Nigeria (TCN) to hasten the unbundling exercise of the System Operator (SO) and the MO from the Transmission Service Provider (TSP).
Amadi noted that such separation will create operational independence and fairness in the electricity market, saying: “They need to be fully separated and this has become more important now that government is getting involved in some fiscal policies.”

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