NERC denies increasing electricity tariff by 50 per cent

The Nigerian Electricity Regulatory Commission has denied increasing electricity tariff by 50 per cent.

This was disclosed in a statement by its spokesman, Michael Faloseyi, on Tuesday.

Faloseyi spoke against the backdrop of media reports that the electricity tariff had been increased by 50 per cent.

“The commission hereby states unequivocally that no approval has been granted for 50 per cent tariff increase in the tariff order for Electricity Distribution Companies which took effect from January 1, 2021.

“On the contrary, the tariff for customers on Service Bands D and E (customers being served less than an average of 12 hours of supply per day for a period of one month) remains frozen and subsidised in line with the policy direction of the federal government.

“In compliance with the Electric Power Sector Reforms Acts and the nation’s tariff methodology for biannual review, the rates for Service Bands A, B, C, D and E have been adjusted by N2.00 to N4.00 per kWhr to reflect the partial impact of inflation and movement in foreign exchange rates,” the statement explained.

The commission said it remained committed to protecting electricity consumers from failure to deliver on committed service levels under the service-based tariff regime and urged customers to report any arbitrary tariff increase.

Ehime Alex
Ehime Alex
Ehime Alex reports the Capital Market, Energy, and ICT. He is a skilled webmaster and digital media enthusiast.

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