A Review of the Nigerian Energy Industry

Nigeria to save $1bn from efficient use of energy

Energy consumption04 November 2014, Lagos – Nigeria can save at least $1 billion from the rising energy bills, if the electricity supply in the country is efficiently managed and utilised, an energy expert and Chief Operating Officer, Powtech Power International Limited, Mr. Reginald Ifionu has said.

Addressing journalists at a briefing in Lagos, to announce the presentation of ES-25 energy saver equipment, Ifionu, said that it costs about $1 million to build a megawatt of electricity.

“At the country’s current generating capacity of 4,000 megawatts, MW, and the ability of ES-25 to save energy by 25 percent, the country will be saving at least $1 billion from energy efficiency,” he said.

According to him, the energy saving equipment is meant to regulate energy consumption, especially as the country is yet to achieve regular power supply one after privatization.

“The ES-25 is a high efficiency voltage controller installed in series after the electricity meter has been installed to optimize energy levels by reducing the wasteful energy and convert the same into direct savings.

“Energy bills are steeply rising and there is an urgency of usage of various energy conservation retrofits to save energy on different electrical equipment available at home. The best technique available is to install ES-25 energy savers, which will reduce the energy bills up to 25 percent,” he added.

Also speaking, the Managing Consultant/Chief Executive Officer of Powtech, Mr. Goody Duru-Oguzie, said the technology is designed to benefit private, public and industrial concerns.

“It is a win-win situation. The industry wins. The country wins. The populace wins. It is a high efficiency energy saving optimizer which has the capacity to optimize voltage to a desired level and improve the power factor with a low loss impedance technology resulting in eliminating wasteful energy and converting the same into direct electricity savings,” he said.
*Sebastine Obasi – Vanguard

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