{"id":99226,"date":"2024-08-20T21:29:08","date_gmt":"2024-08-20T21:29:08","guid":{"rendered":"https:\/\/journalist101.com\/?p=99226"},"modified":"2024-08-20T21:29:08","modified_gmt":"2024-08-20T21:29:08","slug":"enugu-govt-targets-700mw-as-investors-stakeholders-review-states-draft-electric-regulatory-framework","status":"publish","type":"post","link":"https:\/\/journalist101.com\/2024\/08\/20\/enugu-govt-targets-700mw-as-investors-stakeholders-review-states-draft-electric-regulatory-framework\/","title":{"rendered":"Enugu Govt Targets 700MW As Investors, Stakeholders Review State’s Draft Electric Regulatory Framework"},"content":{"rendered":"
… Stakeholders hail EERC on transparency, proactiveness<\/strong><\/h5>\n

Aligned with its vision to grow the state’s economy from $4.4 billion to $30 billion and address the state’s power requirements, the Enugu State Government has announced efforts to increase the state’s electricity capacity from the current 70MW supplied by the national grid to 700MW, leveraging private sector investment.<\/p>\n

The government expressed a strong desire to incorporate the feedback of industry stakeholders into the draft electricity regulatory framework to ensure the viability of the state’s electricity market.<\/p>\n

This was even as developers, operators, investors, financiers, consumers, and other stakeholders praised the state’s transparency and proactive measures in its efforts to establish an electricity market that safeguards the interests of all parties involved.<\/p>\n

The state government and industry players spoke at a stakeholders engagement and consultation organised by the Enugu State Electricity Regulatory Commission, EERC, to review it’s draft regulatory instruments in the state capital on Tuesday.<\/p>\n

While officially opening the event, Governor Peter Mbah, through the representation of the State Government’s Secretary, Prof. Chidiebere Onyia, emphasized that the campaign pledges to restore pipe-borne water, enhance security, education, healthcare services, revitalize and expand road infrastructure, foster a conducive environment for business development, job creation, and economic growth cannot be realized without significant advancements in electricity services.<\/p>\n

\u201cTherefore, we are opening up the entire value chain of the electricity market in Enugu State for all market participants to play, from supply to generation, transmission to distribution, electricity retailing through off-grid to mini-grid solutions and from metering to energy efficiency applications,\u201d he said.<\/p>\n

He assured the industry players of the continued independence of EERC to operate without political or administrative interference.<\/p>\n

Speaking, the Chairman of EERC, Chijioke Okonkwo, who rued the present power deficits in the state, noted that the Commission needed to carry everyone along from the outset in order to build investor confidence required to turn things around.<\/p>\n

\u201cWe have given ourselves some projected targets that within the next two years (2026), Enugu State should be consuming at least 300 megawatts and by 2030 we would have hit at least 700 megawatts.<\/p>\n

\u201cRight now, we are getting approximately 70 megawatts from the national grid. And this is not sufficient for us to say that we want to put ourselves in the position to industrialize. We want to change that narrative.<\/p>\n

\u201cHowever, industry players and operators want a place where they can carry out commercially viable businesses. They are here to make money, but they are also expected to provide services that are reliable and sustainable and also undertake these service for the long term and not the short term.<\/p>\n

\u201cSo, this engagement will give them an opportunity to make inputs and let us agree on what these regulations should speak to in order to support their investment initiatives before the finalisation, adoption, and implementation of the regulatory framework,\u201d Okonkwo said.<\/p>\n

In his contribution, the Managing Director of Siemens Energy Nigeria, Seun Suleiman, commended the transparency of the state government through its regulatory agency.<\/p>\n

\u201cI see a lot of transparency here today. Each Commissioner is breaking down all the discussions in terms of the regulation and how you will get the permit. We are very happy because we also want to support a lot of these captive power investors with our ranges of gas turbines, which we have done in so many places,\u201d Suleiman enthused.<\/p>\n

On her part, the Acting Managing Director of the Infrastructure Bank, Nkiru Chime, said, \u201cEnugu State is being very proactive in setting out how the electricity market will play. But funding is needed to drive the investment, and that is why we are here to provide an avenue to enable all the participants or market developers to attract the right kind of funding to develop the market. We believe that once the projects are structured correctly, once the projects are viable, you can attract an unlimited source of funding.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

… Stakeholders hail EERC on transparency, proactiveness Aligned with its vision to grow the state’s economy from $4.4 billion to $30 billion and address the state’s power requirements, the Enugu State Government has announced efforts to increase the state’s electricity capacity from the current 70MW supplied by the national grid to 700MW, leveraging private sector […]<\/p>\n","protected":false},"author":1,"featured_media":97757,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"jetpack_post_was_ever_published":false,"tdm_status":"","tdm_grid_status":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[1],"tags":[],"class_list":{"0":"post-99226","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/journalist101.com\/wp-content\/uploads\/2024\/07\/Enugu-State-Governor-Dr-Peter-Mbah.jpg?fit=1000%2C667&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p4LVjE-pOq","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/journalist101.com\/wp-json\/wp\/v2\/posts\/99226","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/journalist101.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/journalist101.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/journalist101.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/journalist101.com\/wp-json\/wp\/v2\/comments?post=99226"}],"version-history":[{"count":1,"href":"https:\/\/journalist101.com\/wp-json\/wp\/v2\/posts\/99226\/revisions"}],"predecessor-version":[{"id":99227,"href":"https:\/\/journalist101.com\/wp-json\/wp\/v2\/posts\/99226\/revisions\/99227"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/journalist101.com\/wp-json\/wp\/v2\/media\/97757"}],"wp:attachment":[{"href":"https:\/\/journalist101.com\/wp-json\/wp\/v2\/media?parent=99226"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/journalist101.com\/wp-json\/wp\/v2\/categories?post=99226"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/journalist101.com\/wp-json\/wp\/v2\/tags?post=99226"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}