NERC Says It Has Not Approved Electricity Tariff Increase

NERC Says It Has Not Approved Electricity Tariff Increase

By News Agency of Nigeria on August 25, 2019
0
Zainab Ahmad

The Nigerian Electricity Regulatory Commission, NERC, says no tariff increase has been approved by the commission yet.

In a statement, Usman Arabi, NERC’s general manager of Public Affairs, in a statement on Friday, August 23, 2019, in Abuja said it was still consulting with stakeholders.

He said that the commission  wished to notify the public that no tariff increase had been approved by the commission contrary to the impression in some quarters.

“However, the commission in the discharge of its statutory responsibilities enshrined under the  Electric Power Sector Reform, EPSR, Act, shall continue to undertake periodic reviews of electricity tariffs in accordance with prevailing tariff methodology.

`In all instances of such reviews and rule-making, the commission shall widely consult stakeholders and final decision shall be  taken with  due regard of all contributions,” he said.

Arabi said that the commission wished to provide guidance that the minor review implemented by the commission was a retrospective adjustment of the tariff regime released in 2015

He said that this was to account for changes in macroeconomic indices for 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,” he said.

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