THE Bureau of Public Enterprises (BPE) has received $559.5 million (N88.4 billion) from 14 bidders for 15 successor electricity companies as at Thursday.

The BPE, in a statement yesterday, said all the preferred bidders for the 15 Power Holding Company of Nigeria (PHCN) (successor companies) have met the deadline for the payment of the mandatory 25 per cent of the offer value of their bids.

Meanwhile, succour may have come the way of Power Distribution Companies (DISCOS) as the House of Representatives yesterday adopted and passed a resolution urging the Minister of Finance, Dr. Ngozi Okonjo-Iweala, to accommodate their financial needs, as well as that of Power Generation Companies (GENCOS).

This, according to the Parliament, should come by way of a supplementary budget to facilitate the discharge of their functions of providing electricity to the people while waiting for the process of privatisation to be perfected.

The statement signed by BPE Spokesperson, Joe Chigbo Anichebe, stated that the agency, on March 21, 2013, received $31 million from four more Power Consortium for Port-Harcourt Distribution Company; $31.5 million from Interstate Electrics Limited for Enugu Distribution Company; and $27,913,633.50 from North-South Power Company for Shiroro Power Plc, being the mandatory 25 per cent of the bid value for the electricity companies.

It noted that earlier, Vigeo Consortium, the preferred bidder for Benin Distribution Company, had paid $32.25million; Transcorp/Woodrock Consortium, the preferred bidder for Ughelli Power Plc, paid $75 million; CMEC/EUAFRIC Energy JV, the preferred bidder for Sapele Power Plc, paid $50,249,965; Kann Consortium, the preferred bidder for Abuja Distribution Company, paid $41 million; Aura Energy, the preferred bidder for Jos Distribution Company, paid $20,464,968.15; Mainstream Energy Limited, the preferred bidder for Kainji Power Plc, paid $59,467,500; and Sahelian Power SPV, the preferred bidder for Kano Distribution Company, paid $34.25 million.

It added: “Other bidders are: Amperion Power Company Limited, the preferred bidder for Geregu Power Plc, which paid $33 million; Integrated Energy Distribution & Marketing Company, the preferred bidder for Ibadan and Yola Distribution Companies, which paid $42.25 million and $14.75 million for Ibadan and Yola Discos; NEDC/KEPCO, the preferred bidder for Ikeja Distribution Company, which paid $32.75 million; and West Power & Gas, the preferred bidder for Eko Distribution Company, which paid $33.75 million.

It would be recalled that the final approval of the preferred bidders by the National Council on Privatisation (NCP) and its announcement for the successor companies was done on October 23, 2012.

The Nigerian electricity industry has been unbundled into generation and distribution companies and a single transmission company with a view to encouraging private sector participation and attracting foreign and local investments into the Nigerian power sector to ensure economic and reliable electricity supply.

Adopting a motion introduced by the Chairman, House of Representatives Committee on Power, Patrick Ikhariale, the House contended that the power sector was critical to the economy and should not be neglected, especially in the area of funding.

http://www.ngrguardiannews.com/index.php?option=com_content&view=article&id=116949:14-bidding-power-firms-meet-deadline-pay-5595m-to-bpe&catid=1:national&Itemid=559

seriously, i think this GEJ's administration is on the verge of solving Naija's power problems..WISH OUR COUNTRY GOODLUCK