Nigerian Electricity Regulatory Commission has disclosed plans for an electricity tariff review for the country’s 11 Distribution Companies expected from July 2021.
The review, according to NERC, is due to inflation, foreign exchange, gas prices, available generation capacity and capital expenditure.
NERC said, “The Multi Year Tariff Order provides for Minor Reviews (every six months), Major Reviews (every year) and the Extraordinary Tariff Reviews in instances where 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.”
The notice, issued on the commission’s website on Monday, is in compliance with the Electric Power Sector Reform Act, the Business Rules of the Commission and the Regulations for Procedures for Electricity Tariff Reviews.
The development is coming after series of public hearing and stakeholder consultation in the first quarter of 2020 on the Extraordinary Tariff Review of the 11 distribution companies.
Stakeholders and the public have been asked to send comment to the commission within 21 days of the announcement.
Get real time update about this post categories directly on your device, subscribe now.