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From Isaac Anumihe, Abuja
Nigerian Electricity Regulatory Commission (NERC), yesterday, disclosed that the tariff increase was effected since December, 2021, saying that it was not a new hike.
The chairman of NERC, Mr Garba Sanusi who spoke to newsmen in Abuja on the reported increase, noted that NERC has not approved a new tariff increase but the report gave the impression that it was a recent increase.
The chairman explained that it is part of the functions of the commission to review tariff considering the inflationary and exchange rate fluctuations but a new tariff increase has not taken place.
Recall that in its website on Thursday, the commission published a review of a tariff increase for six Distribution Companies (DisCos) with effect from December 2021.
The DisCos include, Port Harcourt Electricity Distribution Company (PHEDC); Jos Electricity Distribution Company (JEDC); Kano Electricity Distribution Company (KEDC); Kaduna Electricity Distribution Company (KEDC); Ikeja Electricity Distribution Company (IKEDC) and Ibadan Electricity Distribution Company (IBEDC).
The document issued on December 29, 2021, and signed by NERC chairman, Sanusi Garba and , Vice chairman, Musiliu Oseni said that the new was not intended to cause panic.
The commission said that some of the indices considered for the tariff increase include gas price, inflation, exchange rate, US inflation rate and available generation capacity adding that these indices shall be reviewed every six months to update the tariffs with changes in the indices as applicable in line with the multi-year tariff order (MYTO).
