New Electricity Tariff to Kick in from April
The Electricity Distribution Companies (DisCos) say they will begin the implementation of a new tariff from April.
The Nigerian Electricity Regulatory Commission (NERC) had announced a review of the multi-year tariff order (MYTO) 2015 and the minimum remittance order (MRO).
The regulator said it does not envisage an immediate increase in end-user tariffs until April 1 and a transition to full cost reflectivity by end of 2021.
In a statement issued on Monday to clarify the tariff review, Sunday Oduntan, executive director, research and advocacy, Association of Nigerian Electricity Distributors (ANED), umbrella body of the DisCos, described the review as a “slight increment”.
“The Tariffs shall remain the same as they presently are (i.e. 2015 levels) until April 01, 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,” Oduntan said.
“In view of the foregoing, we state emphatically that there shall be no change or increase in the existing Electricity tariff until April 01, 2020 when the new adjusted tariffs shall begin to gradually reflect the dynamism of our macro-economy.
“We sincerely hope that this statement substantially clarifies the accurate position and allays any fears and concerns, our esteemed customers may have.”