Breaking News
NERC suspends electricity tariff increase for 14 days
The Nigerian Electricity Regulatory Commission (NERC) has ordered the 11 Distribution Companies (DisCos) to suspend the September 1 tariff increase for 14 days.
The NERC Order on Suspension of the MULTI YEAR TARIFF ORDER (MYTO) 2020 released on Tuesday night and signed by the Chairman, Prof. James Momoh, said from September 28, 2020 to October 11, 2020, the DisCos must revert all charges to the tariff existing as of August 31, 2020.
The Daily Trust reports that the NERC said following a joint communique issued by the Federal Government and the labour unions, the FG agreed that the recent review in electricity tariffs would be suspended by the Commission for a period of 14 days to further consultations and finalisation of negotiations between the parties.
It said as empowered by Section 33 of the Electric Power Sector Reform Act, EPSRA 2005, the Minister of Power, Engr. Sale Mamman can issue such directive to NERC.
NERC said it accepted the communique as a general policy direction in accordance with section 33 of EPSRA.
This means for the next two weeks, electricity consumers having power above 12 hours who were affected by the over 100 per cent tariff hike would revert to their old charges.
kindly donate to the work we do using our interim PAYPAL https://www.paypal.me/NewsWireNGR
