New Electricity Tariff Out This Week- NERC

Nigerians will this week know the new tariff for electricity, the Nigerian Electricity Regulatory Commission (NERC) said at the weekend.

The regulatory agency said at a workshop in Abuja that it had considered the submissions of the 11 electricity distribution companies (Discos) in Nigeria’s electricity market, and would after a final regulatory meeting in the week, announce the new rates.

The Chairman of NERC, Dr. Sam Amadi, said the regulator had held meetings with the Discos to finalise their respective tariff proposals. He said that the commission had also got feedbacks from both government and the Discos and would now conclude the process.

“We have gone to the Discos, gotten feedback; gone to government and gotten feedback. We have not finalised. In our view, we have basically done the crunching of numbers,” he said, adding: “It is not about tariff increase, it is also not about their financial outlay. We have done the technical work, remaining the regulatory work. By next week, we should sign off on the new tariff.”

Amadi’s disclosure follows that of Minister of Power, Works and Housing, Mr. Babatunde Fashola, who last week announced that NERC and the 11 Discos had been directed to meet and come up with what he described as a fair market tariff.

Credit: ThisDay

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