The Management of the Northern Electricity Distribution Company (NEDCo) is demanding the arrest and prosecution of the youth of Tamale who went on a rampage at the company, vandalizing some of their offices.
Speaking exclusively to Energynewsafrica.com, the Corporate Communications Manager of NEDCo, Maxwell Kotoka was of the view that arresting the culprits and allowing the laws of Ghana to deal with them would serve as a deterrent.
He explained that the management of the company had met with Yaa-Naa to help fashion out strategies to ensure peace to enable their staff to resume work safely.
“Management wished that we had not reached or didn’t get to this far, but that is where we find ourselves. But as I have told you, we are in talks and negotiating with our staff and urging them to come back to work,” he noted.
According to him, the workers would have loved to go out to work but human lives are worth more than the revenue.
Mr Kotoka observed that the company was doing in-rolls until the setback but expressed the hope that a swift solution would be found for the challenges.
For the workers to resume work, he called for their safety, stressing that though the security agencies were protecting their offices, offering the same kind of service to workers would go a long way to help heal the process.
Meanwhile, the Overlord of the Dagbon State, Nidan Ya-Na Abubakar II, has advised the youth to desist from any action that would further disturb the peace of the Tamale metropolis.
Source: https://energynewsafrica.com
Ghana’s Minister of Energy, Dr Matthew Opoku Prempeh, has commended the Ghana Energy Awards (GEA) as a great initiative for the energy sector, particularly given the stringent processes attached to its organisation and the integrity of the people featured on its panel.
“I think that you’re onto something great. I’m impressed by the credibility of the people associated with the awards through the Awarding Panel,” he said and added that in recognition of the nature of the awards scheme, he would, henceforth, personally encourage and facilitate the participation of all agencies under his Ministry in subsequent events.
Dr Matthew Opoku Prempeh made these comments when a delegation from the Ghana Energy Awards called on him at the Ministry.
The visit was to brief the Minister on the upcoming ‘5th Ghana Energy Awards’, which is scheduled for 19th November 2021 at the Labadi Beach Hotel, in the capital of Ghana.
The delegation was led by Lawyer Kwame Jantuah, an Energy Consultant, who is the Chairman of the GEA Awarding Panel.
Dr. Matthew Opoku Prempeh, Minister for Energy
He was accompanied by Professor Felix Asante, Pro-Vice-Chancellor of the University of Ghana, in charge of Research, Innovation and Development; Dr Lawrence Tetteh, Economist, renowned Evangelist, who are Panel members; Ing. Henry Tenor, Chief Executive of the Energy Media Group, the Event Director; Nicholas Frimpong-Manso, MD of GP Business Consulting, Co-organiser of the event; with Patricia Danful and Cornelius Atiase from the Awards Secretariat.
The Ghana Energy Awards aims at recognising players in the energy sector through awards and acknowledging their accomplishments in the public and private sectors, as well as the non-governmental space.
According to the Awards Secretariat, the Ghana Energy Awards, since its institution in 2017, has built a name and brand within the sector that ensures continued interest from the sector itself.
Categories for this year include the Energy Personality of the Year, CEO of the Year, Excellence in Digital Service Delivery, Energy Institution of the Year, Digitalisation Project of the Year, Energy Company of the Year, Rising Star and Energy Reporter of the Year.
The 5th Anniversary Ghana Energy Awards is under the theme: ‘Digitalised Energy Sector: The Key For A Resilient Economic Future’.
According to the Chairman of the Awarding Panel, Lawyer Kwame Jantuah, an influencing factor on the choice of theme was the realisation of the government’s intent to digitalise a lot of institutions.
“We felt that the energy sector companies and institutions have made a lot of progress in digitalising their operations. So, we felt it was the right time to award those taking digitisation seriously and encourage others in the sector to follow suit,” Lawyer Jantuah said.
He further noted that at the close of the nominations’ window, the Awarding Panel undertakes a thorough and independent scoring process, with final output by the validators, Mazars Ghana.
“We go through this rigorous process to keep the scheme security proof and ensure a fair competitive environment,” he said.
The organiser of the Awards, Ing. Henry Teinor disclosed that before the main awards ceremony, the Secretariat embarks on varied pre-event activities including the Media Launch, Energy Personalities Outreach Programme, Courtesy Calls on the industry, Site Visitation to nominees’ projects sites and participation in the Renewable Energy Fair Exhibition.
He said nominations for the 5th Anniversary Ghana Energy Awards is officially opened until 20th October 2021. Applicants can visit www.ghanaenergyawards.com to file nominations or call 055 930 0631 for sponsorship or other enquiries.
The Ghana Energy Awards is organised by the Energy Media Group, in partnership with GP Business Consulting and endorsed by the Ministry of Energy and the World Energy Council Ghana, with validation by Mazars Ghana.
Industry partners include the Volta River Authority, Bui Power Authority, Ghana Gas, Energy Commission, Meinergy Technology, Chamber of Bulk Oil Distributors, Sunon Asogli Power, COPEC Ghana and the Association of Oil Marketing Companies.
Source: https://energynewsafrica.com
Ivorian President His Excellency Alassane Ouattara and Claudio Descalzi, Chief Executive Officer of Eni have met to discuss the progress of Eni’s activities in the country, following the giant offshore oil discovery of Baleine 1-X.
The Italian oil and gas giant announced in September a major oil discovery in block CI-101, in what was the company’s first exploration well drilled in the West African nation.
The Baleine-1x well was drilled using the Saipem 10,000 drillship.
At the meeting last week, Eni CEO and President Ouattara discussed Baleine’s appraisal and fast-track development plans.
According to Eni, President Ouattara highlighted his strong political will to support investments and a fast time-to-market through an effective collaboration from his Government.
The discovery, which took place 20 years after the last commercial discovery in the area, opens up a new exploration concept in a mature basin, Eni said.
“Baleine’s potential is estimated in excess of 2 billion barrels of oil in place and about 2.4 trillion cubic feet (TCF) of associated gas. Its significant gas volumes will contribute to power generation in Ivory Coast, strengthening the country’s role as a regional energy hub,” Eni said.
Eni also said that President Ouattara and Descalzi had discussed on how to deliver a net-zero carbon development project, complementing oil and gas with renewables and other decarbonization initiatives such as UN REDD+ programs for the protection of primary forests and biodiversity.
Also, the duo discussed ways to boost local content development of local content, facilitating the participation of local people and businesses in Eni’s industrial activities, through transfer of skills and knowledge and the reinforcement of communities’ skills assets.
To enhance capabilities and human resources, Eni Corporate University (ECU) and Ecole Supérieure du Pétrole et de l’Energie will collaborate, too.
Fourteen top management executives of the state-owned Tema Oil Refinery (TOR) in the Republic of Ghana have been interdicted for petroleum products losses running into over US$14 million.
A three-member Interim Management Committee (IMC) chaired by Ing. Nobert Cormla-Djamposu Aku uncovered the massive rot at the struggling state oil refinery spanning from 2012, energynewsafrica.com’s sources within the refinery have revealed.
The IMC was constituted by the country’s Energy Minister, Dr Matthew Opoku Prempeh, to undertake technical and human resource audits as well as receiving and assessing viable partnerships for TOR.
This was after the dismissal of the Managing Director of TOR, Mr Francis Boateng, and his Deputy, Mr Ato Morrison, in June this year.
According to energynewsafrica.com’s sources, the ICM has been working tirelessly and scrutinising the transactions of the refinery since 2012.
A document intercepted by energynewsafrica.com named Daniel Osei Appiah, Director for Finance; Abraham Quayson, Head of Production; Julius Ogo at the RFCC; Christopher Boateng, Movement of Product Unit; Daniel Fugah, Production Unit; Kobina Takyi Koomson, Production Unit; Matthew Adu-Gyamfi, Production Unit; William Frimpong, Production Unit, Emmanuel Tetteh Doku, Movement of Production Unit; Edmond Kojo Baiden, Movement of Product Unit; George Kweku Gaisie, Finance Department; Joseph Akure, Finance Department; Abu Osman, Distribution; and Victor Dekayie, Import & Export (Shipping).
These persons were interdicted on Tuesday, September 28, 2021.
Energynewsafrica.com understands that some of the managers, supervisors and union executives have appeared before the National Intelligence Bureau Ghana for the role they played in the losses of the refinery.
According to energynewsafrica.com’s sources, the IMC uncovered US＄4.5 million in losses at one department while it uncovered US$10 million in another department.
The technology group Wärtsilä has signed a 5-year long-term Operation & Maintenance (O&M) agreement with Lafarge Africa Plc, one of Nigeria’s leading building material producers.
The agreement covers the 100 MW Lafarge Ewekoro power plant, which provides a dedicated supply of electricity to the company’s concrete and cement manufacturing processes.
Signing of the O&M agreement took place in July 2021, and is an extension of a previous 10-year agreement.
The captive Ewekoro plant was supplied and commissioned by Wärtsilä in 2011. It consists of six Wärtsilä 50DF dual-fuel engines, operating primarily on gas, but with the flexibility to automatically switch to liquid fuel in case of a disruption to the gas supply.
Similarly, should the quality of the gas supply be disrupted, the Wärtsilä engines will continue to operate efficiently, delivering an assured and reliable power supply to the facility.
Unlike gas turbine plants, the engines will also function efficiently with a low-pressure gas supply, thus providing a huge advantage given the region’s vulnerability to such interruptions.
The captive power plant provides the cement production facilities steady supply of electricity and an efficient use of available natural gas as primary fuel. By having Wärtsilä operate and maintain the power plant, the customer can focus on its core business to deliver construction materials to Nigeria.
“We have benefited significantly from the efficient way by which Wärtsilä has operated and maintained this plant for the past ten years, and we had no hesitation in extending the agreement for a further five years. An uninterrupted reliable supply of electricity is essential to our production, and having our own power plant, built, operated and maintained by Wärtsilä, gives us this assurance,” said Lanre Opakunle, Strategic Sourcing Director, Power & Gas, Middle East & Africa, Lafarge – a member of Holcim Group.
“Lafarge has been a customer with whom we have built a strong relationship over a number of years. Their readiness to renew this O&M agreement is a clear indication of satisfaction with our performance, and of how it supports the achievement of their business goals,” commented Marc Thiriet, Energy Business Director, Africa West, Wärtsilä Energy.
The scope of the agreement includes the operating crew, performance guarantees, plant availability, and spare parts.
Wärtsilä has also supplied Lafarge with another 100 MW power plant located in Mfamosing, Nigeria. With a total of 200 MW of generating capacity to the same customer, Wärtsilä has established a high level of trust that validates the efficiency of the company’s flexible and reliable technology.
Since 2010, Wärtsilä has had a strong presence in Nigeria with a total installed capacity of 667 MW. The company locally employs approximately 90 people. In Africa, Wärtsilä has an installed footprint of more than 7000 MW.
The India government has hiked the price of natural gas by 62 per cent, energyworld.com has reported.
Natural gas is used to produce electricity, make fertilizers and turned into CNG to use as fuel in automobiles and cooking gas for household kitchens.
This is the first increase in rates since April 2019 and comes on back of firming benchmark international prices but does not reflect the spurt in spot or current price of liquefied natural gas (LNG) witnessed during the last couple of weeks.
The oil ministry’s Petroleum Planning and Analysis Cell (PPAC) said the rates paid for gas produced from fields given to state-owned Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL) will be USD 2.90 per million British thermal unit for the six-month period beginning April 1.
Simultaneously, the price for gas produced from difficult fields such as deepsea, which is based on a different formula, was hiked to USD 6.13 per mmBtu from the current USD 3.62 per mmBtu.
This is the maximum price that Reliance Industries Ltd and its partner BP plc are entitled to for the gas they produce from deepsea blocks such as KG-D6.
The increase in gas price is likely to result in a 10-11 per cent rise in CNG and piped cooking gas rates in cities such as Delhi and Mumbai, industry sources said.
It will also lead a rise in cost of generating electricity but consumers may not feel any major pinch as the share of power produced from gas is very low.
Similarly, the cost of producing fertiliser will also go up but as the government subsidises the crop nutrient, an increase in rates is unlikely.
At the last revision in April this year, rates paid to ONGC were left unchanged at UD 1.79, while the deepsea gas price was cut from USD 4.06 per mmBtu to USD 3.62.
A USD 1 increase in gas price results in Rs 5,200 crore revenue for ONGC on an annualised basis. After accounting for taxes and other levies, it translates into Rs 3,200-3,300 crore in EBDITA for the company, sources said.
Gas prices were last raised in April 2019 and have since only fallen due to a drop in global benchmark rates.
The Ghana National Gas Company has announced that it will shutdown its Atuabo Gas Processing Plant from Monday, October 4 to Monday, October 18, 2021.
The planned shutdown is to allow for routine maintenance of the facility to improve upon the Atuabo Plant’s capacity of continuous productivity, as well as prolong its lifespan.
In a statement issued by the Corporate Communications Unit of Ghana Gas it said the planned outage is consistent with other shutdown planned by upstream and downstream players.
“All key stakeholders including Ghana Gas, Tullow Oil, ENI, Volta River Authority and MLE, have put in place necessary mechanism to reduce the shutdown duration which would have taken a total of 49 days to 14 days”.
During the Maintenance Shutdown, there shall be an installation of High Integrity Pressure Protection System (HIPPS) and maintenance works on the replacement of Small Bore Piping (SBP), Heat Exchanges cleaning, replacement of damaged Product Cooler, replacement of defective valves, re-calibration of of our Safety Critical Equipment including Pressure Safety Valves (PSVs).
The statement explained that “the key benefit of this shutdown is to enhance operability and reliability of our processing transportation infrastructure.”
The statement assured the stakeholders that Ghana Gas would work with all its partners to ensure system stability during the shutdown and minimise the impact on power supply.
Mena Tradex, an Egyptian Liquefied Petroleum Gas company, is exploring business a opportunity in the Republic of Ghana, West Africa.
The company is looking at the possibility of establishing CNG Virtual Pipeline in Ghana through a Public Private Partnership, Build Operate & Transfer (BOT).
Consequently, officials of Mena Tradex, earlier this week, visited Ghana and held talks with officials of the National Petroleum Authority (NPA), Ghana’s petroleum downstream regulator.
Mena Tradex was established in 1992 by Eng. Ahmed Al-Gawish.
Mena Tradex has a special position in the development of liquefied petroleum gas (LPG) business and structures in Egypt.
It offers consulting services, EPC, maintenance, and after-sales experience in gas projects.
Through its experience in the LPG market, Mena Tradex was commissioned to prepare market research and feasibility studies, as well as provide unique and diverse services to customers.
Mena Tradex offers the best technologies for any business.
Fuel prices have been increased in the Republic of Ghana, bringing more hardships to the already suffering consumers in the West African nation due to the Covid-19 pandemic.
As of last night, September 30, 2021, the leading indigenous oil marketing company, GOIL, reviewed its prices upward from GHS 6.38 per litre for both petrol and diesel to GHS 6.50, representing GHp12.
Major OMCs like Shell and Total Energies reviewed their fuel prices upward Thursday evening.
Both Shell and Total Energies retail outlets are now selling fuel at GHS6.52 per litre of petrol and diesel.
It is expected that other Oil Marketing Companies will adjust their pump prices effective today, October 1, 2021, as it is the beginning of the first pricing window.
Brent crude oil, which is the global benchmark, traded at $80 per barrel on Tuesday, September 28, 2021, first time in three years, according to oilprice.com.
It, however, slumped to $78.50 on Wednesday, following a supply inventory of 4.127 million barrels as reported by the American Petroleum Institute.
As of Friday morning, Brent crude was selling at $78.46 per barrel while WTI was trading at $75.12.
Some analysts are predicting a consistent rise in fuel prices on the local market between now and December.
The Management of Ibadan Electricity Distribution Company (IBEDC) Plc in the Federal Republic of Nigeria has congratulated Nigerians on the occasion of the nation’s 61st Independence Anniversary.
The Chief Operating Officer of the Company (COO), Engr. John Ayodele, in a statement, said every anniversary of Nigeria’s independence is a unique privilege to re-commit to the service of the great country with profound diversities and opportunities.
Engr. Ayodele further stated that building a strong and formidable society is also largely dependent on its economic strength, and IBEDC, as a player in the power sector, is avowed and committed to that value.
“IBEDC is dedicated to contributing its quota to Nigeria’s economic strength, through excellent service delivery, prompt response to our customers’ complaints and bridging the metering gap across our network,” Engr. Ayodele said.
While wishing the customers a happy Independence Day, Engr. Ayodele enjoined them to be safety conscious.
“I plead with our customers and all Nigerians to observe and adhere to all the COVID- 19 safety protocols of hand washing, use of face masks and physical distancing as recommended by the Nigerian Centre Disease Control (NCDC).”
He explained that it is also important that other safety precautions such as proper supervision of children to prevent electrical accidents, not cooking or trading under high-tension wires and not engaging quacks to fix faults are strictly observed.
Engr. Ayodele said IBEDC is committed to ensuring that its customers enjoy uninterrupted services during the holiday as much as it is within the control of the company.
He also urged customers to take advantage of their Hassle-free payment platforms- Fetswallet, Quick teller, transact, Payarena, ATM, Jumia and USSD to pay their electricity bills promptly and vend to ensure uninterrupted power supply.
“Our payment centres are also open during the holiday from 9 am-3 pm to attend to customers for bill payment, vending, enquiries and complaints, customers can reach us via our Customers care lines 07001239999,” he concluded.
Employees of the Northern Electricity Distribution Company (NEDCo) in Tamale in the northern part of Ghana say they are insecure and living in fear.
This follows last Saturday’s attack on their offices by some youth of the town.
According to the staff, their fears have been heightened by threats by some youth of Tamale on social media that they would kidnap NEDCo workers if they go to their homes to collect electricity bills or are seen in town.
“It looks like Tamale residents want to use electricity but do not want to pay. Any attempt to have them pay only attracts threats and beatings, so we the workers here say we are tired; our lives are essential, so we are not safe to go out there and work,” Mr William K. Asare, chairman of the Senior Staff Association (SSA) of NEDCo, said on an Accra-based Adom FM on Wednesday.
Mr Asare, who expressed worry over the recent attack on NEDCo, said: “As of Tuesday, September 28, they [residents] were on social media insisting that if we come, they will beat us, they will kill us.’’
He said they are no longer going to town to collect electricity bills because they need to protect their lives.
“It is as if we are waiting for Tamale residents to beat up a VRA staff to death before they realise this is a serious issue,” he lamented.
Mr Asare wants the residents to know that “our job is to sell electric power so when we sell, we have to retrieve the monies,” lamenting that “every month, the company loses 45 per cent [Gh¢8.5 million]” as a result of illegal connections.
The Government of Ghana has filed a response to the suit by the Italian oil and gas firm, Eni, at the International Tribunal in London, United Kingdom.
Ghana’s Attorney General, Godfred Yeboah Dame disclosed this in a telephone conversation but declined to give details of the government’s response to the case.
Ghana’s President Nana Akufo-Addo, who recently expressed unhappiness about Eni’s decision to sue the government, despite closed-door meetings to resolve the issue, however, assured of his resolve to find an amicable resolution of the matter.
Eni is challenging a directive by Ghana’s Ministry of Energy, asking them to unitise the Sankofa Field and Afina oil block operated by Springfield E&P, a wholly Ghanaian upstream player.
In a statement filed by three renowned lawyers namely Craig Tevendale, Andrew Cannon and Charlie Morgan from the Herbert Smith Freehills LLP, Eni is seeking five reliefs from the Tribunal.
The claimant wants the Tribunal to declare that the purported 9th April Directive, 14th October Directive, 6th November Directive and any other steps taken to implement those directives represent a breach of contract under the Petroleum Agreement.
The claimant also wants the Tribunal to declare that the respondents take no further action to implement the purported unitisation of the Sankofa Field and Afina Discovery on the terms of the purported 14th October Directive, the Draft UUOA sought to be imposed by the purported November Directive or otherwise.
The third relief the claimant is seeking is an order that the respondent pays damages in an amount to be quantified for the losses suffered by the claimant arising out of the respondent’s breaches of the petroleum agreement, Ghanaian law and International Law on a joint and several bases.
Additionally, the claimant is seeking an order that the respondent pays all of the costs and expenses of the arbitration including the fees and expenses of the claimant counsel and any witnesses and/or experts in the Arbitration, the fees and expenses of the Tribunal and the fees of the SCC on a joint and several bases and/or order such further or other relief as the Tribunal may in its discretion consider appropriate.
It would be recalled that in April 2020, Ghana’s former Minister for Energy, John Peter Amewu issued a directive to Eni and Springfield E&P to begin talks and combine their adjacent oil and gas fields in April and gave them until September 18 to reach an agreement.
The Minister’s directive said that seismic data had indicated that Eni’s Sankofa offshore field, which entered production in 2017, and Springfield’s Afina Discovery had identical reservoir and fluid properties.
“Regrettably, it has become obvious that the parties do not intend to comply with the ministry of energy’s directives,” the letter signed by Minister John Peter Amewu said.
A year after the directive, both Eni and Springfield E&P have failed to unitise the Sankofa offshore field and Afina Discovery.
Springfield took the case to a high court in Accra, Ghana.
The court, in its ruling, directed Eni to escrow 30 per cent of proceeds from the Sankofa offshore field pending the final determination of the case.
The Board of Directors of the Millennium Challenge Corporation’s (MCC) has approved a four-year $25 million Threshold Programme between it and the Government of The Gambia.
During its quarterly meeting on Wednesday, September 29, 2021, the MCC’s Board also approved the Fiscal Year 2022 Selection Criteria and Methodology Report and received an update on the status of the MCC Nepal Compact following the recent senior-level MCC visit to the country in early September to advance ratification.
“MCC is pleased to partner with the Government of The Gambia and support building the country’s institutional capacity.
“Through select reforms, the Government of The Gambia will develop more effective, accountable and transparent governance-and improve operations–in the electricity sector,’’ the MCC’s Acting Chief Executive Officer, Mahmoud Bah said in a press statement issued by the MCC.
In addition to approving the threshold, the Board voted to extend the $450 million MCC-Morocco Employability and Land Compact, which was signed in 2015 and designed to boost Morocco’s economic growth through investment in the land and education sectors.
The MCC was granted the authority to extend compacts experiencing delays due to the COVID-19 in December 2020.
The Morocco compact extension will provide an additional $10.5 million in oversight and administrative expenses.
In addition to Morocco, the MCC’s Board has previously extended and increased the Gambia’s Power Compact by $7.6 million and the Benin Power Compact by $16 million.
The Millennium Challenge Corporation is an independent U.S. Government agency working to reduce global poverty through economic growth. Created in 2004, the MCC provides time-limited grants and assistance to countries that meet rigorous standards for good governance, fighting corruption and respecting democratic rights.
In a widening energy crisis, China is expanding power use restrictions to at least 20 regions and provinces that contribute more than half to the Chinese economy, adding a bearish risks-off sentiment on global markets, including in the oil market.
Twenty regions that account for over 66 percent of the gross domestic product (GDP) of the world’s second-biggest economy have already announced some forms of restrictions on electricity use, especially in heavy and energy-intensive industries, Bloomberg reports.
The power outages have spread from factories to homes, with residents in northeast China impacted by hours-long unexpected blackouts, Caixin Global reports.
Amid tight power supplies and soaring coal prices, power outages in China have started to hit factories of various energy-intensive industries, sparking renewed fears about larger disruptions to global supply chains on top of the COVID-related issues.
As coal prices surge amid a global energy crunch, Chinese authorities are mandating restrictions in energy use, which have led to outages at factories and homes.
The power crunch has reached the automotive industry and workers at GAC Aion, the electric vehicle unit of the largest state carmaker, Guangzhou Automobile Group, have been told to turn off air conditioning, lights, printers, and other office equipment when not in use, in order to conserve energy that’s not critical for car manufacturing, Bloomberg reports.
Toyota, one of the world’s largest automakers, has not been spared the fallout from the power crisis, either. Toyota’s operations in China are suffering the electricity rationing, spokeswoman Shiori Hashimoto told Bloomberg on Tuesday.
At Chinese factories, the power cuts have affected manufacturing sites that supply Apple and Tesla, among others, Reuters reported on Monday. Some suppliers of the two large U.S. companies have halted production in China amid the power crisis.
Apart from the automotive and semiconductor manufacturing industries, Chinese producers of steel, aluminum, furniture, toys, and dyes are also hit by the outages.
Source:Oilprice.com
Energynewsafrica.com understands that some of the managers, supervisors and union executives have appeared before the National Intelligence Bureau Ghana for the role they played in the losses of the refinery.
According to energynewsafrica.com’s sources, the IMC uncovered US＄4.5 million in losses at one department while it uncovered US$10 million in another department.
As of Friday morning, Brent crude was selling at $78.46 per barrel while WTI was trading at $75.12.
Some analysts are predicting a consistent rise in fuel prices on the local market between now and December. 
