To manage revenue shortfalls in the power sect, new electricity tariffs have been imposed by the Nigerian Electricity Regulatory Commission (NERC) and will become effective on April 1, 2020.
The Association of Nigerian Electricity Distributors through its spokesman, Sunday Oduntan, released a tariff review clarification notice indicating that the current tariffs which have been in use since 2015 will be changed in April.
The body said “The Tariffs shall remain the same as they presently are (i.e. 2015 levels) until April 1, 2020, when there will be a slight increment to cater for tariff shortfalls which shall be gradually passed on to the consumer until this is fully completed by the end of 2021.
“In view of the foregoing, we state emphatically that there shall be no change or increase in the existing electricity tariff until April 1, 2020, when the new adjusted tariffs shall begin to gradually reflect the dynamism of our macro-economy.”
The NERC was moved to review the Multi-Year Tariff Order 2015 after being empowered by the Electric Power Sector Reform Act.
“NERC has just reviewed the MYTO 2015 and has published an order on tariffs and minimum remittance for January to June 2020. The tariffs anticipate changes in the currency exchange rates between the United States and Nigeria, changes in the rate of inflation and gas prices”
It expressed hope that its explanation “substantially clarifies the accurate position and allays any fears and concerns, our esteemed customers may have.”