NERC Approves Electricity Tariffs Hike

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The Nigerian Electricity Regulatory Commission (NERC) has approved electricity tariffs hike, effective January 1 2024, following a review of the Multi Year Tariff Order.
Chairman of NERC, Sanusi Garba made this known on Wednesday during a routine media engagement in Abuja.
Garba, however, disclosed that the burden of the electricity tariffs hike will be on the federal government.
The NERC Chairman stressed the Multi Year Tariff Order review and the electricity tariffs hike are in compliance with the Electricity Act 2023.

Garba said this was after an application for tariff review by DisCos and a public hearing on the rate review.

The Order uploaded on the NERC website states appropriate tariffs that consumers should pay for investors to recover their operating cost.

It also contains the federal government’s policy on ensuring that due to the cost-of-living crisis, consumers will not be made to pay higher than prevailing rates.
“Government has decided for now, arising from the cost of living crisis and so many others, to in the meantime continue to subsidise electricity.

“In the new tariff order just published by the commission, you will discover that tariff is not going up but you will see what the Electricity Distribution Companies (DisCos) should be charging.

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