Niger Delta Power Holding Company (NDPHC) Limited and Nigerian Electricity Regulatory Commission (NERC) have advanced discussions for recouping investments in its assets worth N100 billion handed to the Transmission Company of Nigeria (TCN).
This was contained in a document titled: “100 Days in Office Milestone Report” for which the NDPHC managing director, Engr. Jennifer Adighije issued on Friday.
She assumed office alongside other members of the management on August 16, 2024.
The report said the management under her leadership, has “Advanced discussions with TCN and NERC on recouping investments on assets handed over to TCN worth N100 billion.”
Other notable achievements, according to the report, are the recovery of debt from cross-border bilateral client CEET, Togo, in the sum of $4 million for invoice payment for energy sales in November 2023.
The document said the NDPHC has extracted commitment from insurance underwriters AG Zurich to defray about $15 million insurance claims of GT2 fire incident at Alaoji plant.
The company has also revealed that it is establishing a price benchmarking desk for enhancing procurement practices via market surveys to mitigate procurement gaps and lead time for cost savings.
The company, according to the report, has succeeded in the conversion of the third party contract critical manpower to NDPHC staff across the power plants.
It has also completed the Afam-Ikot Ekpene Double Circuit Transmission Line and Adam 330KV Line Bay Extension (NIPP Lot 4T).
According to the document, the NDPHC has completed 1 ×15 MVA, 33/11kV injection substation with 0.1km of 33kV line, 5K of LT Line and supply and installation of 3 numbers of 500 KVA 11/0.415 KV Distribution Transformers in College of Agriculture, Maiduguri, Borno State.
On the challenges of the company, the document said the Nigerian Electricity Liability Company (NELMC) is yet to settle N24.4 legacy debts.
NDPHC said its restrictions by the System Operator of the TCN is resulting in stranded power.
Projecting into 2025, the report said the NDPHC has vowed to restore all off -line generating units across the power plants.
By the third quarter next year, according to the report, the company would develop a sustainable plan for assets optimization.
In the first quarter of 2025, said the document, the NDPHC would engage Market Operators on tariff provisions for ancillary services.
By next year, it would explore investments in renewable energy generation to diversify power generation mix.