Translate:
 
  • Follow Facebook
  • Follow on Twitter
  • Follow on YouTube
Saturday, 8th May, 2021
 
 
 
 Nigeria   ::   News
 
Electricity tariff to rise in July, NERC announces
Apr 27, 2021
Source: CEOAfrica News: Reported by- Prince Lawrence

NIGERIA-Tuesday, 27 April 2021: The Nigerian Electricity Regulatory Commission (NERC) has announced that it will introduce another tariff review in July for the 11 distribution companies (DisCos) in the country.

This was disclosed on Monday in its notice of Minor and Extraordinary Review of Tariffs for Electricity Transmission and Distribution Companies, a development that might lead to a rise in the tariffs payable by electricity users.

The NERC explained that the extraordinary tariff review is due to changes in inflation, foreign exchange, gas prices, available generation capacity and capital expenditure.

It added that the MYTO provides for Minor Reviews (every 6 Months), Major Reviews (every 5 years), and Extraordinary Tariff Reviews in instances where industry parameters have changed from those used in the operating tariffs to such an extent that a review is urgently required to maintain the viability of the industry.

It further stated that “The Commission held series of Public Hearings and stakeholder consultations in the first quarter of 2020 on the Extraordinary Tariff Review Applications of the eleven (11) electricity distribution companies (“DisCos”) to consider their respective 5-year Performance Improvement Plans (“PIPs”).

“Accordingly, this notice is issued to inform the general public and industry stakeholders of the Commission’s intention to: Conclude the Extraordinary Tariff Review process for the eleven DisCos; Commence the processes for the July 2021 Minor Review of MYTO – 2020 to consider changes in inflation, foreign exchange, gas prices, available generation capacity, and CAPEX required to evacuate and distribute the said available generation capacity in accordance with EPSRA and other extant industry rules.

“This notice is hereby issued in compliance with the provisions of EPSRA, the Business Rules of the Commission and the Regulations on Procedures for Electricity Tariff Reviews in the Nigerian Electricity Supply Industry to solicit for comments from the general public on the proposed reviews.

 “Stakeholders and the general public are invited to send their comments to the Commission within 21 days from the date of this publication.”

 
 
 
 
 
 
  Headlines (Nigeria):
Read our other news items below...