The Nigerian Electricity Regulatory Commission has issued a directive suspending the September 1, 2020 electricity tariffs hike for 14 days, following a compromise reached between labour unions and the federal government.
This was contained in a regulatory instrument, ‘NERC Order on Suspension of the MULTI-YEAR TARIFF ORDER (MYTO) 2020 for the Electricity Distribution Licensees,’ the commission issued on Tuesday to electricity distribution companies.
“Following a joint communique issued by the Federal Government of Nigeria and the labour unions, the FGN agreed that the recent review in electricity tariffs would be suspended by the commission for a period of 14 days for further consultations and finalisation of negotiations between the parties.
“This order will take effect from 28 September 2020 and will cease to have effect on 11 October 2020,” the commission stated.
NERC added, “All tariffs for end-use customers and market obligations of the DisCos during the 14-day suspension will be computed on the basis of rates applicable as of 31 August 2020.”
NERC had approved a new tariff for the DisCos under the MYTO 2020 arrangement that took effect from September 1, 2020.
