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FG rules out major electricity tariff hike - Punch Newspapers

Punch Newspapers Sections Okechukwu Nnodim Okechukwu Nnodim Published 1 May 2021 The Minister of Power, Sale Mamman, on Friday dismissed concerns of a major hike in electricity tariff, as he clarified that there was no plan to significantly raise tariff. Mamman said instead of a significant hike in electricity tariff, Nigerians should expect increased efficiency in the sector to reduce tariff, while managing headwinds from foreign exchange and inflation. The clarification came amidst reports of a possible major increase in the tariff payable by electricity consumers nationwide beginning from July this year. The power minister in a statement issued in Abuja, which he personally signed, stated that the order by the Nigerian Electricity Regulatory Commission on April 26, 2021 titled “Notice of Minor and Extraordinary Review of Tariffs for Electricity Transmission and Distribution Companies,” was a routine procedure.

NERC to Consider Changes in Inflation, Exchange Rate & Gas Prices as

Electricity Regulatory Commission (NERC) indicated its readiness to conclude the Extraordinary Tariff Review process for the 11 Distribution companies (DisCos) and commence the processes for the July 2021 Minor Review of Multi-Year Tariff Order (MYTO) – 2020, in its recently released notice tagged “Notice of Minor and Extraordinary Review of Tariffs for Electricity Transmission and Distribution Companies. According to the electricity regulatory body, factors to be considered in the review process include changes in inflation, foreign exchange, gas prices, available generation capacity, and capital expenditure (CAPEX) required to evacuate and distribute the available generation capacity. The proposed electricity tariff review is in consonance with the MYTO methodology in setting out the basis and procedures for reviewing electricity tariff in the country which was adopted by NERC and backed by the provisions of the Electric Power Sector Reform Act (“EPSRA”).

Electricity tariff review: Consumers, experts urge FG to soft-pedal amidst economic woes

Electricity tariff review: Consumers, experts urge FG to soft-pedal amidst economic woes
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