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While developed economies like the United States, the United Kingdom and Germany are often cited as classic examples of successful liberalised and private-sector led electricity markets, events such as: (i) the California electricity crisis of 2000-2001; (ii) the blackouts in parts of North America and Europe in 2003; and (iii) the emerging energy market uncertainties directly or indirectly traced to the evolving international energy decarbonisation policies,all underscores the point that liberalisation and privatisation are not perfect concepts by themselves.There is now a growing consensus that the process of privatisation and liberalisation of energy industries require definite levels of regulatory oversight and commitment to guarantee efficiency, reliability and protect all stakeholders. Notwithstanding the inherent challenges of liberalisation as a means to an end, a set of variables has been generally identified as necessary for an efficient and sustainable private-sector led electricity market.The variables include competition, regulatory transparency and certainty, an apolitical and independent regulator, access to information, efficient cost and price regulation, customer engagement and protection and third party access to essential infrastructure etc. In this light, the aim of this article is to discuss the on-going privatisation and liberalisation process of the Nigerian electricity supply industry; while identifying and commenting on some of the key regulatory instruments produced by the Nigerian Electricity Regulatory Commission (NERC) as the regulator.
Hitherto, industry participants and professionals have had to navigate the emerging and complex Nigerian electricity supply industry (the power sector) without materials or texts that adequately and comprehensively address the history and policy issues, as well as the legal and regulatory frameworks of the industry. In particular, before this book, there was no book written from a practical and hands-on perspective on the key issues connected with the Nigerian power sector or Nigerian power projects generally; neither was there a book that provided good and practical insights on matters related to the negotiation of power sector transaction documents in Nigeria. The few available texts covered only limited aspects of the power sector as none covered multiple key issues. This 400 page book consisting of 10 chapters, attempts to fill the lacuna. It reviews the general legal and regulatory regime of the power sector. It also takes a comprehensive look at the power sector from a historical dimension and looks at where Nigeria is, in terms of the legal and regulatory regime, and the direction in which the country may be headed. Of particular interest to power sector professionals and other persons who negotiate contracts in the power sector or contracts related to the development of power projects, is the chapter which serves as a guide on negotiating key power sector contracts, such as Power Purchase Agreements, Gas Supply Agreements and Engineering, Procurement and Construction Contracts. Noteworthy, is the fact that the book contains contributions from internationally recognized energy law and policy experts like Stella Duru of Banwo & Ighodalo, Jason Kerr of White & Case, Arun Velusami of Norton Rose and Akshai Fofaria of Pinsent Masons. Further, the book considers other issues in the power sector, such as the Partial Risk Guarantee, which backstops the Federal Government of Nigerias payment obligations to power generation companies; and pricing issues.
This timely collection of essays examines the legal and regulatory dynamics of energy transitions in the context of emerging trends towards decarbonisation and low-carbon energy solutions. The book explores this topic by considering the applicable energy law and policy frameworks in both: (i) highly industrialised and major economies such as the US, EU, China and Australia; (ii) resource-rich developing countries such as Nigeria and regions like Southern Africa. Comprising 16 chapters, the book delves into the tradeoffs and regulatory complexities of carbon-constraints in conventional energy supply systems, while maintaining a reliable and secure energy system that is equally sustainable (ie decarbonised). It highlights the importance of ensuring affordable access to energy services in developing economies as the energy transitions unfold and explores the potentials of emerging technologies such as hydrogen networks, power-to-gas and Carbon Capture and Storage. Additionally, the book also considers the international investment law implications of energy decarbonisation. Focusing on the nexus between law, regulation and institutions, it adopts a contextual approach to examine how and to what extent institutions can effectively facilitate more reliable, sustainable and secure energy supply systems in the twenty-first century. This book portrays the conventional hydrocarbon-based energy supply industry in a largely international and interconnected context. It highlights the costs, benefits and losses that may arise as the transition towards decarbonisation unfolds depending on the pathways and solutions adopted. With chapters written by leading experts in energy law and policy, the reader-friendly style and engaging discussions will benefit an international audience of policymakers, academics, students and advisers looking for a more incisive understanding of the issues involved in energy transitions and the decarbonisation of energy systems.
Master's Thesis from the year 2015 in the subject Economics - Case Scenarios, grade: 65, Aston University, language: English, abstract: The slow and deteriorating performance of the electricity power sector over the last few decades triggered the Federal Government of Nigeria to embark on a power sector reform program. This study examines the impact of the power sector reform (restructuring and privatization) on the performance of the electricity sector in Nigeria over the past twenty-five (25) years. Relevant electricity indicators are used to access the performance changes in three significant period; pure state-ownership, transition (restructuring and unbundling) and full privatization of the sector. The study also assesses how the effect of the economic environment, regulatory governance and political climate/effectiveness within the period contributes to the improvements in the electricity sector. The results shows that privatization is associated with improvement in the technical efficiency, access to electricity, electricity consumption per capita and an increase in electricity tariff in the sector. Furthermore, the results highlight the significant relationship between regulatory governance and a robust economy on the performance changes observed in the power industry.
Bringing together conceptual, theoretical and evidence-based contributions from a diverse set of experts, this book provides a comprehensive analysis of energy in Africa, from a management perspective. Taking a closer look at the global energy environment and security in developing areas of the region, the authors discuss the significance of energy policy to the socio-economic growth of the continent. This important book tackles the challenge of ensuring sustainability in Africa and focuses on both fossil fuels and renewable energy. Essential reading for researchers interested in energy management, sustainability, and energy policy, this noteworthy collection of interdisciplinary contributions provides examples of effective energy management in Africa.
Natural gas, a vital primary source of energy for the twenty-first century economy, is poised to play a major role in the medium- to long-term outlook of energy systems worldwide. Its supply to power markets for electricity generation and other energy purposes through the stages of exploration, production, gathering, processing, transmission, and distribution have been a key driver in gas commercialisation over the past two to three decades. This book discusses insights from law and economics pertaining to gas and energy supply contracts, regulation, and institutions. It provides an in-depth ‘law-in-context’ analysis of the approaches to developing competitive and secure gas-to-power markets in an increasingly international, interrelated, and interconnected value chain. Recognising a general move towards structural reforms and economic regulation of gas and energy markets globally, the author incisively addresses the following questions: – Is there a single ‘ideal’ model or approach for ensuring effectiveness in the restructuring and regulation of gas supply to power markets? If not, then what constitutes the matrix of models and approaches? – What are the underlying principles, assumptions, and institutional structures that will enhance the modern approaches to developing competitive, secure, and sustainable gas supply to power markets? – What are the factors that determine or affect the effectiveness and efficiency of such approaches and regulatory frameworks? The book critically explores the instrumental role of regulation and organisational institutions in the restructuring and development of gas supply markets. It examines the evolution of economic approaches to regulation, competitiveness, and security of gas supply in the United States and the United Kingdom. It considers the EU as a supranational union of developed economies and Nigeria as a developing economy, in the process of applying these paradigms of economic regulation and restructuring of gas-to-power markets. In a law and policy environment where training and educational centres, lawyers, and public and corporate energy advisors are becoming more concerned about competitiveness and efficiency in gas resource allocation and pricing – and about high-quality governance frameworks for industries that depend on reliable gas supplies – this vital book will be warmly welcomed by lawyers, policymakers, energy consultants, analysts, regulators, corporate investors, academics, and institutions concerned with and engaged in the business of exploration, production, and supply of gas for energy purposes.
During the 1990s, a new paradigm for power sector reform was put forward emphasizing the restructuring of utilities, the creation of regulators, the participation of the private sector, and the establishment of competitive power markets. Twenty-five years later, only a handful of developing countries have fully implemented these Washington Consensus policies. Across the developing world, reforms were adopted rather selectively, resulting in a hybrid model, in which elements of market orientation coexist with continued state dominance of the sector. This book aims to revisit and refresh thinking on power sector reform approaches for developing countries. The approach relies heavily on evidence from the past, drawing both on broad global trends and deep case material from 15 developing countries. It is also forward looking, considering the implications of new social and environmental policy goals, as well as the emerging technological disruptions. A nuanced picture emerges. Although regulation has been widely adopted, practice often falls well short of theory, and cost recovery remains an elusive goal. The private sector has financed a substantial expansion of generation capacity; yet, its contribution to power distribution has been much more limited, with efficiency levels that can sometimes be matched by well-governed public utilities. Restructuring and liberalization have been beneficial in a handful of larger middle-income nations but have proved too complex for most countries to implement. Based on these findings, the report points to three major policy implications. First, reform efforts need to be shaped by the political and economic context of the country. The 1990s reform model was most successful in countries that had reached certain minimum conditions of power sector development and offered a supportive political environment. Second, countries found alternative institutional pathways to achieving good power sector outcomes, making a case for greater pluralism. Among the top performers, some pursued the full set of market-oriented reforms, while others retained a more important role for the state. Third, reform efforts should be driven and tailored to desired policy outcomes and less preoccupied with following a predetermined process, particularly since the twenty-first-century century agenda has added decarbonization and universal access to power sector outcomes. The Washington Consensus reforms, while supportive of the twenty-first-century century agenda, will not be able to deliver on them alone and will require complementary policy measures
Electricity and Energy Transition in Nigeria provides readers with a detailed account of the dynamics of energy infrastructure change in Nigeria’s electricity sector. The book starts by introducing the basic theories underpinning the politics of energy infrastructure supply and goes on to explore the historical dimensions of the Nigerian energy transition by highlighting the influences and drivers of energy systems change. Edomah also examines the political dynamics at play, highlighting the political actors and institutions that shape energy supply, as well as the impact of consumer politics. The book concludes by considering how all these factors may influence the future of energy in Nigeria. This book will be of great interest to students and scholars of energy transitions, energy technology and infrastructure, and African Studies more generally.
Infrastructure plays a key role in fostering growth and productivity and has been linked to improved earnings, health, and education levels for the poor. Yet Latin America and the Caribbean are currently faced with a dangerous combination of relatively low public and private infrastructure investment. Those investment levels must increase, and it can be done. If Latin American and Caribbean governments are to increase infrastructure investment in politically feasible ways, it is critical that they learn from experience and have an accurate idea of future impacts. This book contributes to this aim by producing what is arguably the most comprehensive privatization impact analysis in the region to date, drawing on an extremely comprehensive dataset.
“There is a lot of competition around Africa, and the only way to make investors more interested in our offerings is by showcasing the real opportunities present in our country and our appetite in technology transfer.” Chief Timipre Marlin Sylva, Minister of State for Petroleum Resources. The Energy Year Nigeria 2021 highlights Nigeria’s ambitious quest to ramp up production via marginal fields, increase its refining capacity through modular plants, advance gas utilisation with virtual pipelines and revamp its entire power sector to ultimately become Africa’s energy powerhouse. “Our strategy and focus for gas in 2021 is to drive the implementation of the country’s “Decade of Gas” initiatives and grow the overall importance of the industry via increasing its contribution to Nigeria’s GDP.” Engr. Sarki Auwalu, Director and CEO, Department of Petroleum Resources The Energy Year Nigeria 2021 elucidates how Nigeria’s energy industry has remained resilient while it undergoes a unique reshaping through its recently passed Petroleum Industry Bill, as well as the launch of its “Decade of Gas” initiative and the materialising of its “refining revolution” – all of which are propelling the country on its path towards energy transition and self-sufficiency. Produced in partnership with the Federal Ministry of Power, the Department of Petroleum Resources and the Nigerian Content Development and Monitoring Board, this eighth edition of The Energy Year’s Nigeria series provides investors deep insight on the efforts made to push the country’s energy sector beyond the Covid-19 crisis. The report gives a detailed picture of the opportunities surrounding crude oil, natural gas and power at a time when Nigeria is driven by its pursuit of greater efficiency and a viable energy transition.