The Nigerian Electricity Regulatory Commission, NERC, has offered reasons for adjustments in the nations electricity industry tariffs.
The Commission said the new tariff will take effect from January 1st, 2021.
It said the tariff increase was necessitated by Current Exchange Rate, Available Generation Capacity, Nigeria’s Inflation Rate, US Rate Of Inflation, Gas Price And MDA Losses And Capex (Capital Expenditures) Adjustment.
The new increment is coming at a time Nigerians are struggling to cope with the hardship brought about by the corona virus.
But again, the NERC on Tuesday, January 5, clarified that it did not increased the electricity tariff by 50 percent.
In its statement, the NERC said such increment was not contained in the tariff order; for electricity distribution companies which took effect on January 1, 2021.
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 Government.
The NERC statement partly read, “The attention of the Commission has been drawn to publications in the print; as well as electronic media misinforming electricity consumers that the Commission has approved a 50% increase in electricity tariffs.
“The Commission hereby state unequivocally that no approval has been granted for a 50% tariff increase; in the Tariff Order for electricity distribution companies which took effect on January 1, 2021.”