Ibom Power Company Limited has introduced a periodic publication to provide updates on the activities of the company to the public.
The Managing Director of the power firm, Dr. Victor Udo disclosed this via a welcome message published in the first edition of the Newsletter. He said the Newsletter would provide updates to stakeholders, employees, customers, shareholders, regulators and members of the community.
He also used the medium to share some of the achievements of the company, the most notable being that the Nigerian Electricity Supply Industry (NESI) has admitted Ibom poweras a market participant.
The MD said that Ibom power has stabilized the operation of the 115megawatts Gas Turbine Generator 3 (GTG 3). He said GTG 3 is the only running unit out of three units installed in Ibom power plant, which has a total installed capacity of 191megawatts.
‘We have improved power evacuation into the national grid, reduced plant downtime to the lowest minimum and commissionedthe 200megawatts capacity transmission line from Ikot Abasi to Eket’ he said.
The Ibom power Boss added that the company has signed a Memorandum of Understanding (MOU) for the CBN-NERC Stabilization Fund, which will improve the finances of the company.