Government Has Not Increased Electricity Tariff By 50%— NERC

<p>&nbsp&semi;<&sol;p>&NewLine;<p><em>Government has not increased electricity tariff by 50 percent as being speculated<&sol;em><br &sol;>&NewLine;<strong><a href&equals;"https&colon;&sol;&sol;openlife&period;ng&sol;">OpenLife Nigeria<&sol;a><&sol;strong> can reports that federal government of Nigeria has denied increasing electricity tariff by 50 percent as being reported in the media&period;<br &sol;>&NewLine;The denial&comma; according to the Nigerian Electricity Regulatory Commission&comma; NERC&comma; has become necessary to avoid misleading suspecting consumers into panic&period;In a statement&comma; the Nigerian Electricity Regulatory Commission&comma; on Tuesday afternoon&comma; said it has not increased electricity tariff by 50 per cent&period;<br &sol;>&NewLine;The Commission said such increment was not contained in the tariff order for electricity distribution companies which took effect on January 1&comma; 2021&period;<br &sol;>&NewLine;It said the tariff for customers being served less than an average of 12 hours of power supply per day over a period of one month remains frozen and subsidised in line with the policy direction of the Federal <strong>Government<&sol;strong>&period;<br &sol;>&NewLine;The statement partly read&comma; &OpenCurlyDoubleQuote;The attention of the Commission has been drawn to publications in the print and electronic media misinforming electricity consumers that the Commission has approved a 50&percnt; increase in electricity tariffs&period;<br &sol;>&NewLine;&OpenCurlyDoubleQuote;The Commission hereby state unequivocally that no approval has been granted for a 50&percnt; tariff increase in the Tariff Order for electricity distribution companies which took effect on January 1&comma; 2021&period;<br &sol;>&NewLine;&OpenCurlyDoubleQuote;On the contrary&comma; the tariff for customers on service bands D &amp&semi; E &lpar;customers being served less than an average of 12hrs of supply per day over a period of one month&rpar; remains frozen and subsidised in line with the policy direction of the FG&period;<br &sol;>&NewLine;&OpenCurlyDoubleQuote;In compliance with the provisions of the EPSR Act and the nation’s tariff methodology for biannual minor review&comma; the rates for service bands A&comma; B&comma; C&comma; D and E have been adjusted by NGN2&period;00 to NGN4&period;00 per kWhr to reflect the partial impact of inflation &amp&semi; movement in forex&period;<br &sol;>&NewLine;&OpenCurlyDoubleQuote;The Commission remains committed to protecting electricity consumers from failure to deliver on committed service levels under the service-based tariff regime&period;”<&sol;p>&NewLine;