OpeOluwani Akintayo
Lagos — The electricity market operator, NERC has debunked reports on 50% tariff increment, saying that the “adjustment” in tariff bands were due to inflation and an increase in foreign exchange.
In a statement on Wednesday, the Nigerian Electricity Regulatory Commission gave inflation and foreign exchange ranges of between two and 8 percent as reasons for the “adjustment”, and not an increment as earlier reported.
According to the Commission, the 2 to 8 percent increment translates to between N2 and N4/kwhr.
“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 state 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.
“Any customer that has been impacted by any rate increases beyond the above provision of the tariff Order should report to the Commission at customer.complaints@nerc.gov.ng”, the statement said.
