The Nigerian Electricity Regulatory Commission (NERC), on Tuesday, January 5, has denied news going around some section of the media that it has increased electricity tariff by 50 percent.
The clarification was contained in a statement, where the regulator said such increment was not contained in the tariff order; for electricity distribution companies which took effect on January 1, 2021.
It said the tariff for customers being served less than an average of 12 hours of power supply per day; over a period of one month remains frozen and subsidised in line with the policy direction of the Federal Government.
The statement partly read, “The attention of the Commission has been drawn to publications in the print; as well as electronic media misinforming electricity consumers that the Commission has approved a 50% increase in electricity tariffs.
“The Commission hereby state unequivocally that no approval has been granted for a 50% tariff increase in the Tariff Order for electricity distribution companies which took effect on January 1, 2021.
“On the contrary, the tariff for customers on service bands D & E (customers being served less than an average of 12hrs of supply per day over a period of one month) remains frozen; and also subsidised in line with the policy direction of the Federal Government.
“In compliance with the provisions of the EPSR Act; and the nation’s tariff methodology for biannual minor review; the rates for service bands A, B, C, D, and also E have been adjusted by NGN2.00 to NGN4.00 per kWhr to reflect the partial impact of inflation & movement in forex.
“The Commission remains committed to protecting electricity; consumers from failure to deliver on committed service levels under the service-based tariff regime.”
Providing reasons for the latest tariff hike, the commission had said it considered the 14.9 per cent inflation rate rise in November 2020; and foreign exchange of N379.4/$1 as of December 29, 2020.