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NERC Finally Announces The Suspension Of The Increase In Electricity Tariffs For 14 Days, From September 28, To October 11, 2020

NERC suspends electricity tariff hike.

The Nigerian Electricity Regulatory Commission, NERC, has ordered the 11 Distribution Companies, DisCos, in the country, to suspend the September 1, tariff increase for 14 days, Page 36 learnt.

The NERC order on the suspension of the MULTI YEAR TARIFF ORDER, MYTO, 2020, released on Tuesday night, and signed by the Chairman of NERC, Prof. James Momoh, said that, from September 28, 2020, to October 11, 2020, the DisCos must revert all charges to the tariff existing as at August 31, 2020.

This means that for the next two weeks, electricity consumers having power above 12 hours, who were affected by the over 100 percent tariff hike, would revert to their old charges.

The NERC st6ated that, following a joint communique issued by the Federal Government and the Labour Unions, the Federal Government 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 that as empowered by Section 33 of the Electric Power Sector Reform Act, EPSRA 2005, the Minister of Power, Engr. Saleh Mamman, can issue such directive to the NERC.

More news later…

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