Thedailynewsngr
  • Home
  • News
  • Business
  • Education
  • Entertainment
  • Politics
  • Sports
    • Sports Betting
  • Videos
  • Sections
    • Special Reports
    • Travels
    • Religion
No Result
View All Result
  • Home
  • News
  • Business
  • Education
  • Entertainment
  • Politics
  • Sports
    • Sports Betting
  • Videos
  • Sections
    • Special Reports
    • Travels
    • Religion
No Result
View All Result
Thedailynewsngr
No Result
View All Result

Confusion over fresh increase in electricity tariff

January 5, 2021
in News
Kindly share this post

There is confusion among electricity consumers and distribution companies over a fresh hike in electricity tariff.

electricity

On Tuesday, a report by a national daily emerged saying that the Nigerian Electricity Regulatory Commission (NERC) has approved over 50 per cent hike in electricity tariff payable by customers of the 11 distribution companies (Discos).

The report added that according to a revised Multi-Year Tariff Order (MYTO) signed by the new Chairman of NERC, Sanusi Garba, on December 30, 2020, and sighted Tuesday, the new tariff increase took effect on January 1, 2021, and supersedes the previous Order NERC/2028/2020.

Providing reasons for the latest tariff hike, the commission said it considered the 14.9 per cent inflation rate rise in November 2020 and foreign exchange of N379.4/$1 as of December 29, 2020.

Others were available generation capacity, the United States inflation rate of 1.22 per cent and the Capital Expenditure of the power firms before the tariff was raised.

Findings showed that the revised Service-Based Tariff saw an increase in the rates payable by the various classes of electricity users unlike the one of November 2020, that exempted low electricity consumers.

The commission also stated that the new tariff would be effective till June 2021 while a Cost Reflective Tariff would be activated from June to December 2021.

The commission had stated last month that it was carrying out a review for another tariff, hence the latest order announcing an increase in the rates payable by consumers.

In September last year, the commission raised electricity tariff but this was faced with stiff opposition by the organised labour, as the unions threatened to embark on a nationwide strike.

After a series of negotiations that tariff was reduced based on consumer classes and the hours of power supply received by an electricity user.


Kindly share this post
Tags: electricity

Related Posts

Buhari

Jangebe abduction will be the last – Buhari

March 1, 2021
Bawa

PDP charges Bawa to restore professionalism in EFCC

March 1, 2021

Femi Falana demands release of sacked Ganduje’s aide

March 1, 2021

Hunters kill kidnapper, rescue seven victims in Ondo

February 28, 2021

Anxiety in Abuja as petrol queues resurface

February 28, 2021

Aisha Yesufu: President Buhari incompetent, clueless

February 28, 2021

Latest News

  • Jangebe abduction will be the last – Buhari
  • PDP charges Bawa to restore professionalism in EFCC
  • Femi Falana demands release of sacked Ganduje’s aide
  • Mixed reactions as Davido steps out with American IG model, Mya Yafai
  • Hunters kill kidnapper, rescue seven victims in Ondo
  • JAMB, institutions agree to close 2020 /2021 admissions by June 15

© 2020 thedailynewsngr

Navigate Site

  • About Us
  • Contact us
  • Privacy Policy
  • sitemap
  • Advert Rates
  • Terms

Follow Us

No Result
View All Result
  • Home
  • News
  • Business
  • Education
  • Entertainment
  • Politics
  • Sports
    • Sports Betting
  • Videos
  • Sections
    • Special Reports
    • Travels
    • Religion

© 2020 thedailynewsngr

Do NOT follow this link or you will be banned from the site!