NERC Refutes 50% Increase in Electricity Tarrif

NERC Refutes 50% Increase in Electricity Tarrif

The regulatory body of electricity in Nigeria under the aegis Nigerian Electricity Regulatory Commission (NERC) has refuted the claim that it has increase electricity tarrif by 50%.

Contained in a statement issued on Tuesday, 5th January, the commission disclosed that such was not part of the new directive which took effect from January 1st, 2021.

Rather, it clarified that the tariff for customers being served less than an average of 12 hours of power supply per day over a period of one month remains frozen and subsidised in line with the policy direction of the Federal Government.

The statement partly read, “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 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.

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“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.”

Meanwhile, in an earlier report by the PUNCH, a local newspaper agency, it was reported that a fresh increment of the electricity tarrif has been issued by the Federal government.

Furthermore on the report, the reputed news agency stated that the commission had said it considered the 14.9 per cent inflation rate rise in November 2020 and foreign exchange of N379.4/$1 as of December 29, 2020.

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