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Adjusted Electricity Rates Out This Week, Says NERC

Presidency intervenes as Geometric, Enugu Disco adopt out-of-court settlement. After duly considering the various individual electricity tariff submissions of the 11 electricity distribution
companies (discos) in Nigeria’s electricity market, the Nigerian Electricity Regulatory Commission (NERC) at the weekend said that new electricity tariffs will be ready and signed off for use this week.

Though technical details of the new tariff structure have been finalized by the regulator, NERC said at a workshop in Abuja that a final regulatory meeting would be held in the week to conclude the process and then sign it off.
The Chairman of NERC, Dr. Sam Amadi said the regulator had held meetings with Discos to finalise on their respective tariff proposals. He said that the commission had gotten feedbacks from both government the Discos and would now conclude the process.
“We have gone to the Discos, gotten feedback, gone to government and gotten feedback. We have not finalised. In our view, we have basically done the crunching of numbers.
“It is not about tariff increase, it is also not about their financial outlaw. We have done the technical work, remaining the regulatory work. By next week, we should sign off on the new tariff,” Amadi said.
Amadi’s disclosure follows that of Minister of Power, Works and Housing, Babatunde Fashola who last week announced that NERC and the 11 Discos had been directed to meet and come up with what he described as a ‘fair market tariff’
Fashola had said that the new tariff was key to reliable electricity supply in the country and thus appealed to consumers to accommodate the incoming increase with some benefit of doubts on the government’s sincerity to enthrone a fair tariff regime in the sector.
He pointed out that a good tariff system guarantees good power supply and drew close analogy to what happened in the country’s telecoms sector when it was privatised in 1999. Fashola stressed that the sector will eventually plateau to allow supply and tariffs gain commercial values.


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