‘No tariff increase has been approved’ ― NERC

“No tariff increase has been approved, the Nigerian Electricity Regulatory Commission (NERC) at the weekend, said.

It was reacting to a publication in several electronic and print media that end-user electricity tariffs have been increased following the approval of the minor review (2016 – 2018) of the 2015 Multi-Year Tariff Order on August 21, 2019.

The commission in a statement signed by the General Manager, Public Affairs, Usman Arabi, a copy of which was made available to Nigerian Tribune, Abuja explained that the minor review implemented by the Commission was an adjustment of the tariff regime released in 2015 to account for changes in macroeconomic indices for the years 2016, 2017 and 2018.

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It said this was intended to provide certainty about revenue shortfall that may have arisen due to the difference between tariffs approved by the regulator and actual end-user tariffs.

“The Commission, therefore, wishes to notify the general public that no tariff increase has been approved by the Commission vide the Order,” the statement reads.

However, it stressed that it will continue to observe a periodic review of the tariff as enshrined in the Electricity Power Sector Reforms Act(EPSRP).

“The Commission in the discharge of its statutory responsibilities enshrined under the EPSR Act shall continue to undertake periodic reviews of electricity tariffs in accordance with prevailing tariff methodology.

“In all instances of such reviews and rulemaking, the Commission shall widely consult stakeholders and final decision shall take due regard of all contributions,” the statement reads.

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