BREAKING: Massive Outcry As FG Approves Increase In Electricity Tariff

Follow 9News Nigeria On Social Media

Nigerian Electricity Regulatory Commission
Nigerian Electricity Regulatory Commission
Social sharing

The Nigerian Electricity Regulatory Commission (NERC) has approved requests by some Electricity Distribution Companies (DisCos) to increase their tariff rates, 9news Nigeria learnt.

The DisCos include: 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)

According to a report by The Nation, 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”), 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 the potential impact of on electricity rates were considered.

It added that these indices shall be reviewed 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.

READ ALSO  Panic As NCC Set To Ban Nigerians Who Have Four Lines

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.

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

9news Nigeria

Leave your comment on this post

THE ROTTEN FISH: CAN OF WORMS OPENED OF APC & TINUBU'S GOVERNMENT OVER NIGERIA'S ECONOMIC DOWNTURN

WATCH THE CRITICAL ANALYSIS AND KNOW THE RESPONSIBLE PARTIES TO BLAME FOR NIGERIA'S ECONOMIC CHALLENGES, WHILE CITIZENS ENDURE SEVERE HARDSHIPS.
READ ALSO  President Tinubu Arrives Venue For Burial Of 17 Soldiers Killed In Delta

Watch this episode of ISSUES IN THE NEWS on 9News Nigeria featuring Peter Obi's Special Adviser, Dr Katch Ononuju, 9News Nigeria Publisher, Obinna Ejianya and Tinubu Support Group Leader, McHezekiah Eherechi

The economic crisis and hardship in Nigeria are parts of the discussion.


Watch, leave your comments, and share to create more awareness on this issue.


#9NewsNigeria #Nigeria #issuesInTheNews #politics #tinubu THE ROTTEN FISH: CAN OF WORMS OPENED ...
DON'T FORGET TO SUBSCRIBE AND LEAVE YOUR COMMENTS FOR SUBSEQUENT UPDATES
#9newsnigeria #economia #economy #nigeria #government @9newsng
www.9newsng.com

Leave your comment

Click on the link below or Scan the QR Code to join the 9News Nigeria WhatsApp Channel

9News Nigeria Investigative Reports WhatsApp Channel
9News Nigeria Investigative Reports WhatsApp Channel
About 9News Nigeria 13308 Articles
9News Nigeria is Nigeria's favourite news source. For Authentic, Unbiased News on Politics, Business, Sports, Technology, Entertainment and Lifestyles, Health, Nollywood, Crime and Investigations, Family and Relationships, Inspirations .. and much more. For Latest News from Africa and around the world, 9News Nigeria is your best source. WhatsApp +2348115805632 Email: info@9newsng.com Facebook: www.facebook.com/9NewsNG | Twitter/Instagram: @9newsng

Be the first to comment

Leave your comment