24.8 C
Abuja

NERC mulls hike in electricity tariff, seeks to conclude extraordinary review for DisCos

Advertisement

Related

Advertisement
Advertisement

THE Nigerian Electricity Regulatory Commission (NERC) has mulled plans to increase electricity tariffs as it seeks to conclude the Extraordinary Tariff Review process for the country’s 11 electricity distribution companies.

This is contained in a notice posted to its website on Monday, April 26.

The Commission expressed its readiness to commence the processes for a minor review of the tariff in July, based on “changes in inflation, foreign exchange, gas prices, and available generation capacity,” among other factors.

The NERC is, however, soliciting “the general public on the proposed reviews.”

READ ALSO: Inside NERC’s electricity tariff regime

NERC is mandated under the provisions of the Electric Power Sector Reform Act (“EPSRA”) to review electricity tariffs in Nigeria every six months (minor) and five years (major).

Reviews can also be carried out whenever “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.”

Earlier in April, the Federal Government had apologised to Nigerians over power outages and shortages in various parts of the country.

- Advertisement -

According to a statement from the Federal Ministry of Power, the outages were caused by the breakdown of some National Integrated Power Plants (NIPP) supplying electricity to the national grid, the Federal Ministry of Power explained in a statement on Thursday.

Author profile

You can reach out to me on Twitter via: vincent_ufuoma

Support the ICIR

We invite you to support us to continue the work we do.

Your support will strengthen journalism in Nigeria and help sustain our democracy.

[molongui_author_box]

If you or someone you know has a lead, tip or personal experience about this report, our WhatsApp line is open and confidential for a conversation

Advertisement

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Support the ICIR

We need your support to produce excellent journalism at all times.

spot_img
Advertisement

Recent

Nigeria ranks 27th among countries with highest number of prisoners

NIGERIA, with 74,059 inmates, is currently the 27th country with the highest number of...

Banks will accept rested notes after February 10 deadline – Emefiele

THE Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has assured Nigerians...

General Elections: INEC to engage NNPC Ltd over fuel supply concerns

THE Independent National Electoral Commission (INEC) said it would be meeting with the leadership...

How North Korean runs illegal hospital patronised by the high and mighty in Abuja

A PRIVATE hospital run by a man, Jongsu Kim, who claims to be Chinese...

Why there is no basis for current petrol scarcity – PENGASSAN

THE Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) says there is...
Advertisement

Most Read

Advertisement

Subscribe to our newsletter

Advertisement