Skip to main content

Suspension of electricity tarrif increase in public interest – NERC

Suspension of electricity tarrif increase in public interest – NERC

Suspension of electricity tarrif increase in public interest – NERC

The Nigerian Electricity Regulatory Commission (NERC) on Wednesday said that its order to suspend the recent tariff increase was done in the public interest.

Mr Dafe Akpeneye, Commissioner, Legal Licensing and Compliance, NERC, disclosed this at the virtual 2020 Businessday Energy Series – Fuel of the Future (Gas) Summit.

The summit had the theme: “Nigeria at 60: Harnessing Nigeria’s Energy Potential for the Future”.

The News Agency of Nigeria (NAN) reports that NERC issued an order to electricity Distribution Companies (DisCos) to suspend the implementation of the Service Reflective Tariff (SRT), effective Sept. 28 to Oct. 11.

Akpeneye said the suspension would enable further consultations and finalisation of negotiations between the Federal Government and labour unions who kicked against the tariff hike.

He said: “The gesture was done in good faith by the government and NERC as a regulator is bound by Section 33 of the Electric Power Sector Reform Act 2005, to comply with general policy directions concerning electricity from the minister.

” It says the commission shall take into consideration in discharging its functions under section 32(2), provided that such directions are not in conflict with this Act or the Constitution of the Federal Republic of Nigeria.

READ ALSO: Major reason FG suspended electricity tariff hike

“Looking at the overriding public interest on this issue, we saw that this is a valid policy directive and we issued the order to suspend the tariffs review from Sept. 28 to Oct. 11, to enable parties to continue with their negotiations.”

According to him, the Multi-Year Tariff Order (MYTO) 2020, was approved by NERC for the DisCos with effect from Sept. 1 after series of dialogue with all stakeholders in the industry.

He noted that the last MYTO was done in 2015 but became effective in 2016.

Akpeneye added that the new review was done to ensure that rates charged by DisCos were fair to customers.

He said it was also to ensure that DisCos operate efficiently to recover the full cost of their activities, including a reasonable return on the capital invested in the business.

The commissioner explained that the rationale behind the SRT was to ensure that the issue of blank increment in tariffs for all customers was removed.

“The SRT is an innovation to remove unfairness in billing customers. The customers have been placed in Bands A, B, C, D and E depending on their hours of electricity supply.

“Only customers enjoying daily supply of 12 hours of electricity and above (Bands A, B and C) are affected by the increment and the DisCos must guarantee these hours of supply to the locations, ” he said.

NAN

Vanguard News Nigeria

The post Suspension of electricity tarrif increase in public interest – NERC appeared first on Vanguard News.


by David O Royal via Vanguard News https://ift.tt/36pQY9l Best Known Member of the Cabinet Wikipedia
Labels:

Comments

Post a Comment

Popular posts from this blog

The Inauguration of Franklin Pierce

On the 4th of March, 1853, Franklin Pierce was inaugurated President of the United States. This was an exciting day for me reading first book of Adam and eve . My husband had written articles for a Virginia paper which had won for him a place on the editorial staff of the Washington Union, and was now in a position to break a lance with my friends, Messrs. Gales and Seaton. Mr. Pierce had liked his articles in the Union, and sought his acquaintance. A friendship rapidly followed which was a happiness to us both. So when some member of the staff of the Democratic organ must be consulted about the inaugural address, the President had sent for my young husband and had taken counsel with him. I was delighted when I received an invitation from my good friends of the Smithsonian Institution to join them in a pleasant room opening on a balcony and overlooking Pennsylvania Avenue, where we were to have a collation and witness the parade. My husband's sixteen-year-old sister, Fanny, was
Post a Comment
Read more

Legal aid council receives 45 cases in 1 month

The Legal Aid Council of Nigeria, Kano State Chapter, said on Saturday that the council received 45 cases in January. The State Coordinator of the council, Labaran Kabo, made the disclosure in an interview with the News Agency of Nigeria (NAN) in Kano. Kabo said that out of the 45 cases, 40 were criminal matters, while five were civil cases. According to him, during the period under review, the council completed 15 criminal cases, while 25 are still pending in court. He further explained that the five civil cases are still pending in court. Also read: Ortom to Buhari: Rein in herdsmen before they drag Nigeria into civil war “Some of the criminal cases were on armed robbery, criminal breach of trust, homicide, rape and theft, while the civil cases were on marriage and land disputes, as well as debt recovery”. The coordinator said that the council is giving voice to the voiceless and advised those who could not afford to pay for such services to feel free and contact the council
Post a Comment
Read more

NEMA solicits media support on disaster management in Oyo

By Adeola Badru, Oyo The National Emergency Management Agency (NEMA), Wednesday, solicited the collaboration of the media industry on efficient disaster management in Oyo State. The newly deployed zonal coordinator of the agency to the state, Mr Akiode Saheed, made this known, during a media parley, held at the Film Centre of the state’s Ministry of Information, Culture and Tourism. Saheed stressed the need for a cordial relationship with relevant stakeholders in the media industry in taking the right measures to avert disasters and also to adopt effective management strategies in averting incidences such as fire, accident, flooding across the state. According to him, the media parley was aimed at engaging the media men and identified their challenges towards ensuring effective management of disaster. He added that the interaction would enable stakeholders to identify the most critical disasters, responses and implementation of national disaster plans. ALSO READ:  Juventus goali
Post a Comment
Read more