NEC approves incremental electric power strategy

The National Economic Council (NEC) has approved the plan to use incremental electric power strategy as a short term measure towards addressing the energy shortage in the country.

The NEC is the highest economic advisory body in the country. It is chaired by the vice president.

According to the talking points of its meeting yesterday released by the NEC secretariat, the Council also endorsed the Federal Government’s plan to shore up revenue through solid minerals sector.

It approved the appointment of professional revenue consultants to achieve the goal.

The balance in the Excess Crude Account (ECA) as at this month is $2.4 billion.

The meeting agreed on the incremental electric power strategy after being briefed by Minister of Power, Works and Housing, Mr. Babatunde Fashola.

Highlights of the presentation include:

“Government’s plan is to deliver incremental, stable, and then uninterrupted power to homes and businesses in stages

“One problem with the power sector is that, there is not enough power to go round. So government will systematically and decisively deal with the immediate task to harness incremental power from all available sources.

“DISCOS were authorised in February this year, to partner with private industry that had idle generation capacity from its captive power station, to add 400 MW of embedded generation that would otherwise have been unused or underutilized.

“DISCOS are encouraged to harness the estimated capacity of over 2,000 MW of unused/underutilized industrial/commercial generators fueled by gas, oil and diesel that can be harvested.