Epileptic Electricity Persist Amidst 11% Increase In Gas Price

Epileptic Electricity Persist Amidst 11% Increase In Gas Price

]Federal government has announced an increase in the wholesale price of gas to power plants by 11 per cent.

This means an increment to $2.42 per Million British Thermal Unit from $2.18 per MMBTU amid the persistent electricity supply in Nigeria.

Chief Executive of Nigerian Midstream and Downstream Petroleum Regulatory Authority Engr Farouk Ahmed, said, the government raised the commercial wholesale gas price, while, key stakeholders and take into cognizance the provisions of the PIA, as well as the gazetted Gas Pricing and Domestic Demand Regulations.

This is coming after the Minister of Power, Adebayo Adelabu, faulted the gas pricing in dollars in December last year, adding that, since January of this year, gas companies have reduced their supply to power plants following years of unpaid invoices amounting to over $1.2 billion, while, the government intervened in March by paying $120 million to the companies as the power supply dwindled.

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