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Federal Government PostPones Increase In Electricity Tariff Till July

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Federal Government PostPones Increase In Electricity Tariff Till July

The Nigerian Electricity Regulatory Commission (NERC) postpones increase in electricity tariff from today till July this year.

Mr James Momoh; Chairman of the commission directed all distribution companies to submit a detailed plan for the attainment of full recovery of prudent costs and allowed return on capital revenue requirements by 30 June 2021.

The NERC had in a December 2019 minor review of the Multi-Year Tariff Order (MYTO) 2015 and Minimum Remittance Order for 2020 disclosed that it would increase tariff from today.

But the increase was described by most stakeholders as “one of the most callous decisions in the face of epileptic power supply as well as lockdown of economic activities and the many implications of the Coronavirus outbreak.”

The revenue recovery and financial sustainability plans are to be submitted to the commission not later than April 21 and would include a path, with timelines, for transiting customers to higher quality of service.

The NERC also directed the Electricity distribution companies to submit revised performance improvement plans based on efficiency within the period.
According to the commission, the approved plans would form the basis for future tariff reviews and recovery.

“All future tariff reviews shall be on the basis of consultations between the Electricity distribution companies and customer clusters with firm commitments on rates and quality of service. The service level compact shall include a compensation mechanism for end-users to address the Electricity distribution companies failure to deliver on performance targets.

“All Electricity Distribution Companies shall be required to disaggregate their respective service areas and/or customers in accordance with quality of service and supported by proposal for service reflective of tariff classes that shall be graduated by quality of service”.

The regulatory agency further ordered the utilities to, no later than June 30, provide 11kKVA smart meters and 33KVA feeders with the capability of sending real time or near real time data to the commission.

“The Federal Government of Nigeria shall provide full support during the transitional period to full revenue recovery ending on June 30, 2021 based on the under-recovery of the revenue requirement determined”, the order stated.

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Teo-Inspiro International is a media production company that is changing the narrative by empowering young people with digital skills to showcase the beauty of Africa. We provide photography and video coverage for events, produce films and documentaries that tell the African story and organize training programs on camera handling.

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