By Prince Okafor
LAGOS—Gas and water shortages may have forced down power output to 2,918 megawatts (mw) as nine power Generation Companies, GENCOs, yesterday, produced zero megawatt of electricity. Power output was 3,146mw previous day.
This came as the Transmission Company of Nigeria, TCN, through the daily operational report of the National Control Centre, NCC, said Nigeria’s electricity sector lost about N1.1 billion yesterday, due to gas and water constraints.
The nine GENCOs are Gbarain, Rivers Independent Power Project, IPP, Trans Amadi, ASCO, and A.E.S. Others are Olorunsogo IPP, Ibom, Ihovbor and Afam IV- V.
The reported gas constraint was 2,155mw as against the previous figure of 2,052mw, while the water constraint remained unchanged at 150mw.
Meanwhile, oil prices rose more than $1 a barrel, yesterday, on news that key Organisation of Petroleum Exporting Countries, OPEC, members were cutting production as promised and on forecasts of strong demand growth in China.
Benchmark Brent crude oil rose $1.33 a barrel to a high of $56.43 before easing slightly to trade around $56.20, while United States light crude was up $1.05 a barrel at $53.30.