Electricity tariff not increased by 50% – NERC
The Nigerian Electricity Regulatory Commission (NERC) has denied reports that it approved an electricity tariff increase by over 50 per cent.
In a statement on Tuesday afternoon, NERC said such increment was not contained in the tariff order for electricity distribution companies which took effect on January 1, 2021.
“The attention of the Commission has been drawn to publications in the print and electronic media misinforming electricity consumers that the Commission has approved a 50% increase in electricity tariffs,” the statement read partly.
“The Commission hereby state unequivocally that no approval has been granted for a 50% tariff increase in the Tariff Order for electricity distribution companies which took effect on January 1, 2021.
“On the contrary, the tariff for customers on service bands D & E (customers being served less than an average of 12hrs of supply per day over a period of one month) remains frozen and subsidised in line with the policy direction of the FG.
“In compliance with the provisions of the EPSR Act and the nation’s tariff methodology for biannual minor review, the rates for service bands A, B, C, D and E have been adjusted by NGN2.00 to NGN4.00 per kWhr to reflect the partial impact of inflation & movement in forex.
“The Commission remains committed to protecting electricity consumers from failure to deliver on committed service levels under the service-based tariff regime.”