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May 29, 2015 12:43 AM ET

Electric Utilities

Company Overview of Power Holding Company of Nigeria (PHCN) Plc

Company Overview

Power Holding Company of Nigeria (PHCN) Plc, through its subsidiaries, produces and distributes power. The company’s subsidiaries include generation companies (GENCO), transmission and systems operations companies (TRANSYCO), and distribution Companies (DISCO). Its services include construction and engineering of power generating units; maintenance and servicing of power grids; dams operations and water management for power generation, flood control, and navigations; resettlement; maintenance of control equipment, protections and communications; maintenance scheduling; and security and post contingency analysis. The company was formerly known as National Electric Power Authority Plc and chan...

Transformer House

Maitama

Abuja,  900271

Nigeria

Founded in 1972

Phone:

234 9 5231231

Key Executives for Power Holding Company of Nigeria (PHCN) Plc

Chief Executive Officer and Managing Director
Executive Director of Finance & Administration
Executive Director of Operations
Chief Executive Officer of the Eko Distribution Zone
Compensation as of Fiscal Year 2014.

Power Holding Company of Nigeria (PHCN) Plc Key Developments

PHCN Privatization Completed

Power Holding Company of Nigeria (PHCN) Plc has successfully completed the privatization process.

Bidders Fail To Meet Nigerian Power Privatisation Deadline

The payments to be received for the acquisition of power distribution and generation assets held by Power Holding Company of Nigeria have failed to meet a government deadline, reported Nigerian Media. 11 bidders could not meet the deadline of August 21 for the payment. The bidders asked for a month's extension to the payment deadline due to concerns over legacy liabilities.

BPE Rules Out Extension Of Deadline For Bidders

The National Council on Privatization (NCP) and Nigerian Bureau of Public Enterprises (BPE) dashed the hopes of some bidders who won the privatization bids for the successor companies created from the unbundling of Power Holding Company of Nigeria (PHCN) when they announced that the August 21 date for payment of the outstanding 75 per cent for the power utilities remained sacrosanct as stipulated in the Request for Proposals. NCP and the BPE both maintained that the deadline for payment of the remaining 75% for the Gencos and Discos remains August 21 as stipulated in the Request for Proposals.

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