New Telegraph

Hydropower, Nigeria’s Cheapest Source Of Electricity At N3.67 kW/hour – Report

Electricity Market and Rates Consultants (EMRC) Limited has said that hydropower is Nigeria’s cheapest source of electricity.

A report from EMRC sighted by New Telegraph on Monday, also stated that the cheapest sources of electricity are from hydropower plants.

According to it, in electricity market invoices for 2023, hydropower plants charged an energy tariff of 3.67N/kWh, compared to the industry average of 17.69 N/kWh from all generation plants.

It stated that the development of grids within states may pose the risk that states lose out on receiving cheaper electricity from hydropower plants.

It added that hydropower is a significant electricity source in Nigeria with three on-grid power plants contributing to the installed capacity.

It noted that in the fourth quarter of 2022, there was an output of 1,316 megawatts (MW), influenced by seasonal changes and operational factors.

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