NERC Denies Report On Increase In Electricity Tariff
LAGOS JANUARY 6TH (NEWSRANGERS)-The Nigerian Electricity Regulatory Commission (NERC) on Sunday said no tariff increase was approved by the commission.
It was reported that President Muhammadu Buhari-led Federal Government through the Nigerian Electricity Regulatory Commission, NERC, approved an increase in electricity tariff by the Electricity Distribution Companies, DisCos, in the country.
The directive of the new tariff regime for different DisCos and category of customers was published on NERC website on Saturday.
But, Mr Usman Arabi, General Manager, Public Affairs (NERC) in a statement issued to NAN on Sunday said the review implemented by the commission was a retrospective adjustment of the tariff regime released in 2015.
The statement reads, “The attention of the NERC has been drawn to the
publication in several electronic and print media that end-user electricity
tariffs have been increased following the approval of the minor review (2016 –
2018) of the 2015 Multi Year Tariff Order on Aug. 21, 2019.
“We wish to provide guidance that the minor review implemented by the
commission was a retrospective adjustment of the tariff regime released in
2015.
“This is to account for changes in macro-economic indices for the years 2016, 2017 and 2018 thus providing certainty about revenue shortfall that may have arisen due to the differential between tariffs approved by the regulator and actual end-user tariffs.
“The commission, therefore, wish to notify the general public that no tariff increase has been approved by the Commission vide the order.”
He added that NERC, in the discharge of its statutory responsibilities enshrined under the Electric Power Sector Reform Act, would continue to undertake periodic reviews of electricity tariffs in accordance with the prevailing tariff methodology.
According to him, in all instances of such reviews and rule making, the commission will widely consult with stakeholders and final decision will take due regard of all contributions.
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Posted by News Rangers
on Jan 6 2020. Filed under Business, National.
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