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Thursday, June 24, 2021

No approval for 50% electricity tariff increase, says NERC

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The Nigerian Electricity Regulatory Commission, NERC, on Tuesday afternoon, said it has not increased electricity tariff by 50 per cent.

The Commission, in a statement, said such increment was not contained in the tariff order for electricity distribution companies which took effect on January 1, 2021.

It said 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 subsidized in line with the policy direction of the Federal Government.

It was earlier reported on Tuesday that the regulator again increased electricity tariff payable by power consumers across the country.

Providing reasons for the latest tariff hike, 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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