Guardian News: Gas price increase will boost electricity supply, says NERC

The Nigerian Electricity Regulatory Commission (NERC) has expressed optimism that Nigeria would witness better supply of electricity as international companies would now be encouraged to sell to the domestic market because of increase in the prices of the product in December 2014.

The price of gas for power generation this December went up. The price approved by the Federal Ministry of Petroleum and NERC is now $2.50 per MMBTU (Million Metric British Thermal Units) effective this month. Gas transportation cost also increased to $.80.

In an interview at the weekend, NERC Chairman, Dr. Sam Amadi, said the price of gas would be a turning point for power generation and supply in the country. He admitted that transmission is still a bottleneck and particularly called on the Federal Ministry of Power not to interfere in the running of the Transmission Company of Nigeria.
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