The Nigerian Electricity Regulatory Commission (NERC) has approved a new cost-reflective tariff increase for electricity distribution companies (DisCos) in the country.informationguidenigeria
The Multi-Year Tariff Order (MYTO) for DisCos, which takes effect from January 1, 2024, is expected to address the financial challenges faced by power distribution companies. According to NERC, the federal government will spend N1.6 trillion on electricity subsidies in 2024, with a monthly payment of N30 billion. This move is aimed at ensuring a more sustainable and reliable power sector in Nigeria.JAMB Result
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“If we have determined that you should be paying N150 and the Federal Government says you should pay N60, it will pay the difference. Then that is what it is, and the government would now provide the money.JAMB Portal
“One of the new things in tariff order is, to avoid rate shock, we will now be doing the minor tariff review very frequently, like every month,’’ he said.
In the last days of 2023, a report emerged of a planned electricity hike on January 1, 2024.
However, the apex regulatory body denied the claim of electricity tariff hike.
Barely two weeks ago, the Minister of Power, Adebayo Adelabu, insisted on electricity subsidy payments at the time of review of the implementation of cost-reflective tariffs.NYSC Portal
He said, “We’re reviewing the implementation process of a cost-reflective tariff while ensuring continued government subsidy for vulnerable members of society”
