Global Upfront Newspapers
Cover News

FG’s NERC Slams Another Electricity Tariff Increase On Nigerians

The Nigerian Electricity Regulatory Commission (NERC) has approved an increase in electricity tariff for all the seven disCos, namely Port Harcourt Electricity Distribution Company (PHEDC); Jos Electricity Distribution Company (JEDC); Kano Electricity Distribution Company (KEDC); Kaduna Electricity Distribution Company (KEDC); Jos Electricity Distribution Company (JEDC); Ikeja Electricity Distribution Company (IKEDC) and Ibadan Electricity Distribution Company (IBEDC).

The new approval took effect from January 1, 2022 but the new rate is from February 2022.

According to the document titled: “This regulatory instrument shall be cited as Multi-Year Tariff Order (MYTO-2022) for Port Harcourt Electricity Distribution Company Plc (PHED”) and published by the Nation, NERC based the increase on the Performance Improvement Plans of the DisCos and indices such as gas price, inflation, exchange rate, US inflation rate and available generation capacity.

The commission noted that the indices with potential impact of on electricity rates were considered.

It added that these indices shall be reviewed in every six months to update the tariffs with changes in the indices as applicable in line with the MYTO.

This was contained in the commission’s Order No: NERC/304/2021, which chairman, Sanusi Garba and Vice Chairman Musiliu Oseni signed on 29th December, 2021.

The document explained: “Consequently, following the approval of PHED’s PIP on 30th April, 2021, the Commission issued the MYTO-2021 Extraordinary Tariff Order effective from 1st July 2021 in consideration on PHED’s CAPEX proposals over a 5-year plan in line with the approved PIP.

“Accordingly, this MYTO-2022 order restates PHED’s approved 5-year CAPEX and relevant assumptions applied to forecast revenue requirements and applicable tariffs for the period 2021-2026 in line with MYTO Methodology and Regulations Procedure for Electricity Tariff Reviews in the Nigerian Electricity Supply Industry (NESI).

”It is programmed from 1st July 2021 to 30th June, 2026.

The document showed that for the PHED (A-Non MD) customers who paid N56.16/kwh in January 2022 will now (February to December 2022) pay N60.67/kwh).

(B Non-MD) customers who paid N56.64/kwh in January 2022, will now pay N59.64/kwh.

The noted that E- MD2 customers who paid N50.72/kwh in January 2022, will now (From February 2022) pay N54.22/kwh .

Advertize With Us

See Also

Nigeria: Troops Foil Attack, Kill 5 Terrorists in Kaduna State

Global Upfront

MNJTF decorates 24 military officers for gallantry in Lake Chad Basin battle against Boko Haram/ISWAP terrorists

Global Upfront

COVID-19 Update: Three dead as Nigeria’s confirmed cases jump to 782

Global Upfront

Military begins new swift counter-terrorism strategies, killing scores of Boko Haram/ISWAP terrorists in Northeast Nigeria

Global Upfront

Nigeria: Crime Surges in Abuja’s Highbrow Areas

Global Upfront

Air Marshal Amao visits Gusau, Zamfara State, urges troops to remain focused and vigilant, says operations yielding expected outcome

Global Upfront

Nigeria: Gunmen Invade, Sack Okrika Police Station in Rivers State, Free High Profile Criminals

Global Upfront

Boris Johnson says anti-racism protests ‘Hijacked by extremists,’ defends history in statue protests; curfew set

Global Upfront

Nigeria: Seven gunned down in Pinau Market, Wase LGA, Plateau State

Global Upfront

Wole Soyinka Tags Buhari A Failure Over Insecurity, Supports His Impeachment For Breaching Democracy

Global Upfront

This website uses Cookies to improve User experience. We assume this is OK...If not, please opt-out! Accept Read More