The Nigerian Electricity Regulatory Commission (NERC) has disclosed it had not approved a hike in electricity tariffs as reviews do not always result in higher costs for consumers.
NERC made this known in a statement on Tuesday, 18th May 2022 titled ‘Notice of Compliance in Respect of the Biannual Review of the Revenue Requirements of Licenses’.
According to the NERC, where the impact of improved efficiency in operating parameters for individual licensees exceeded the impact of changes in macroeconomic parameters, end-users might be reduced as exhibited in some tariff classes under the Multi Year Tariff Order, MYTO 2022.
The clarification comes in response to outrage over recent allegations of power distribution companies, or DisCos, raising bills.
The commission announced that it would begin the processes for the July 2022 minor review of the MYTO 2022, in accordance with the Electric Power Sector Reform Act, EPSRA, and other extant industry rules, to consider changes in relevant macroeconomic indices, generation capacity, and CAPEX required for evacuation and distribution of available generation capacity in compliance with extant rules.
This article was originally published on Nigeria News