New electricity tariffs out this week, says NERC

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New tariffs payable by power consumers across the country will be made public this week, the Nigerian Electricity Regulatory Commission has said.

NERC said the new tariffs would be fair to the consumers, adding that the Federal Government had together with the 11 power distribution companies had made useful inputs into the new rates.

The Minister of Power, Works and Housing, Mr. Babatunde Fashola, had last week said Nigerians should be ready to pay more for electricity, but noted that the increase in tariff would lead to better electricity supply.

The Chairman, NERC, Dr. Sam Amadi, told journalists in Abuja that after duly considering the various submissions by the distribution companies, the new electricity tariffs would be ready and signed off by the commission for use this week.

He said that a final regulatory meeting would be held during the week to conclude the process and then sign it off.

“We have gone to the Discos and got feedback; gone to the government and got feedback. In our view, we have basically done the numbers. It is not about tariff increase, it is also not about their financial outlay. We have done the technical work; it is only remaining the regulatory work. In the new week, we should sign off on the new tariff,” Amadi said.

The NERC boss further said that the commission would commence the verification of the accumulated debts owed the Discos by the government Ministries, Departments and Agencies as well as military and police barracks, among other security formations.

Meanwhile, 14 hydropower dams with a combined capacity to generate over 700 megawatts of electricity have been completed by the Federal Government to boost power supply across the country, the Minister of Water Resources, Mr. Suleiman Adamu, has said.

According to the minister, the present government is determined to improve power generation by maximising the country’s hydro potential, adding that less than 20 per cent of Nigeria’s hydropower capacity had been utilised.

Adamu spoke at a three-day ministerial retreat that ended on Sunday, which was organised by the ministry in Abuja.

Source: Punch