The Nigerian Electricity Regulatory Commission has declared that subsidy on power amounting to about N600bn during some period had now been stopped by the Federal Government.
It also revealed that electricity tariffs were raised in February this year, and was quick to, however, state that the tariff payable by some customers in the franchise area of one of the distribution companies was reduced.
This came as power generation companies condemned the Nigerian Bulk Electricity Trading company, stating that the NBET was failing in its obligations in terms of payment for power generated by the Gencos.
Speaking at a press briefing in Abuja on the challenges in the power sector and other issues, the Chairman, NERC, Sanusi Garba, stated that subsidy on electricity was a policy issue of the Federal Government that had to be halted.
He said, “The role of the commission is to make a determination of the rates that consumers should pay. So, we strike a balance between consumers and investors. “Now subsidy is a policy issue determined by the government.
The government will decide that the rates calculated or agreed by the regulator may at this time not be passed on to consumers. It has happened many times.
