By Babajide Okeowo
Contrary to the news making the rounds, the Nigerian Electricity Regulatory Commission, on Tuesday afternoon assured Nigerians that it has not increased the tariff of electricity by 50 per cent.
The Commission, in a statement, said such increment was not contained in the tariff order for electricity Distribution Companies, DISCOS 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 subsidised in line with the policy direction of the Federal Government.
“The attention of the Commission has been drawn to publications in the print and electronic media misinforming electricity consumers that the Commission has approved a 50% increase in electricity tariffs.
The Commission hereby states unequivocally that no approval has been granted for a 50% tariff increase in the Tariff Order for electricity distribution companies which took effect on January 1, 2021.
On the contrary, the tariff for customers on service bands D & E (customers being served less than an average of 12hrs of supply per day over a period of one month) remains frozen and subsidised in line with the policy direction of the FG.
In compliance with the provisions of the EPSR Act and the nation’s tariff methodology for biannual minor review, the rates for service bands A, B, C, D, and E have been adjusted by NGN2.00 to NGN4.00 per kWhr to reflect the partial impact of inflation & movement in forex.
The Commission remains committed to protecting electricity consumers from failure to deliver on committed service levels under the service-based tariff regime” the statement partly read,
Recall that the cyberspace has been flooded with news that the regulator has again increased electricity tariff payable by power consumers across the country.
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, as reasons for the latest tariff hike.
