The Nigeria Electricity Regulatory
Commission (NERC) Tuesday announced it was cutting electricity tariff
by over 50 percent.The NERC said it is to relieve customers from
accounting for collection losses, which were responsible for the high
tariff hike on 1st January.
NERC Chairman, Dr. Sam Amadi, who broke the news in Abuja recalled that the amount of bills not collected by the Electricity Distribution Companies ( DISCOs) were transferred to consumers in the form of tariff increase by the commission. Amadi said that the “removal of collection losses from customer tariff has reduced tariff by more than 50 percent in some places.
He noted that the reduction does not affect the Central Bank of Nigeria (CBN) facility and its repayment.
The commission, said Amadi, had received several complaints against the increase in tariff of different consumer classes. He added that industrial and commercial consumers under the auspices of the Manufacturers Association of Nigeria (MAN) petitioned the commission, asking for a review of the MYTO 2.1 and requested drastic reduction of their tariff. According to the chairman, they claimed that such astronomical increase in tariff would kill their business and lead to massive job losses.
NERC Chairman, Dr. Sam Amadi, who broke the news in Abuja recalled that the amount of bills not collected by the Electricity Distribution Companies ( DISCOs) were transferred to consumers in the form of tariff increase by the commission. Amadi said that the “removal of collection losses from customer tariff has reduced tariff by more than 50 percent in some places.
He noted that the reduction does not affect the Central Bank of Nigeria (CBN) facility and its repayment.
The commission, said Amadi, had received several complaints against the increase in tariff of different consumer classes. He added that industrial and commercial consumers under the auspices of the Manufacturers Association of Nigeria (MAN) petitioned the commission, asking for a review of the MYTO 2.1 and requested drastic reduction of their tariff. According to the chairman, they claimed that such astronomical increase in tariff would kill their business and lead to massive job losses.
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