{"id":48185,"date":"2024-08-20T21:00:16","date_gmt":"2024-08-20T21:00:16","guid":{"rendered":"https:\/\/nigerdeltanews.ng\/enugu-govt-targets-700mw-as-investors-stakeholders-review-draft-electric-regulatory-framework\/"},"modified":"2024-08-20T21:00:16","modified_gmt":"2024-08-20T21:00:16","slug":"enugu-govt-targets-700mw-as-investors-stakeholders-review-draft-electric-regulatory-framework","status":"publish","type":"post","link":"https:\/\/nigerdeltanews.ng\/enugu-govt-targets-700mw-as-investors-stakeholders-review-draft-electric-regulatory-framework\/","title":{"rendered":"Enugu Govt targets 700MW, as investors, stakeholders review draft electric regulatory framework"},"content":{"rendered":"
\n

In line with its vision to grow the state\u2019s economy from $4.4bn to $30bn and meet the state\u2019s power needs, the Enugu State Government says it is working to ramp up the state\u2019s electricity capacity from the 70MW currently supplied by the national grid to 700MW through private sector investment.<\/p>\n

The government said it was, however, eager to get the inputs of industry stakeholders into the state\u2019s draft electricity regulatory framework to make the state\u2019s electricity market viable.<\/p>\n

This was even as developers, operators, investors, financiers, consumers, among other stakeholders commended what they described as the transparency and proactiveness of the state in its effort to build an electricity market where everyone\u2019s interest is protected.<\/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\u2019s draft regulatory instruments in the state capital on Tuesday.<\/p>\n

Declaring the event open, Governor Peter Mbah, who was represented by the Secretary to the State Government, Prof Chidiebere Onyia, said the campaign promise to resuscitate pipe-borne water, improve security, education and healthcare delivery services, revamp and expand road networks, create the enabling environment for business development, job creation and economic growth would not be possible without a drastic improvement 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.<\/p>\n

\u201cThey 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.<\/p>\n

\u201cWe 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.<\/p>\n

\u201cBut 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.<\/p>\n

\u201cWe believe that once the projects are structured correctly, once the projects are viable, you can attract an unlimited source of funding.\u201d<\/p>\n

Enugu Govt targets 700MW, as investors, stakeholders review draft electric regulatory framework<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

In line with its vision to grow the state\u2019s economy from $4.4bn to $30bn and meet the state\u2019s power needs,…<\/p>\n","protected":false},"author":1,"featured_media":48186,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15083,15],"tags":[24499,24498,1429,137,24500,512,604,180,11737,2374,2220,1040],"class_list":["post-48185","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-enugu-govt","category-news","tag-700mw","tag-draft","tag-electric","tag-enugu","tag-framework","tag-govt","tag-investors","tag-news","tag-regulatory","tag-review","tag-stakeholders","tag-targets"],"yoast_head":"\nEnugu Govt targets 700MW, as investors, stakeholders review draft electric regulatory framework - Niger Delta News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nigerdeltanews.ng\/enugu-govt-targets-700mw-as-investors-stakeholders-review-draft-electric-regulatory-framework\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Enugu Govt targets 700MW, as investors, stakeholders review draft electric regulatory framework - 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