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NERC ON PURPOTED 50 PERCENT INCREASE IN ELECTRICITY TARIFF

Contrary to reports in some section of the media on the approval for fifty percent increase in electricity tariff, The Nigerian Electricity Regulatory Commission NERC says no approval has been granted to Electricity distribution Companies for such increase in the tariff order which took effect from 1st January 2021.

However, in compliance with the provisions of the Electric Power Sector Reform 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 from two naira to four naira per Kilowatts to reflect the partial impact of inflation and movement in foreign exchange rates.

The Commission restates that the tariff for customers who are being served less than an average of twelve hours per day over a period of one month remain frozen and subsidized in line with the policy direction of the federal government

NERC reassures electricity customers of it’s commitment to protecting them under the service based tariff regime.

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