The Federal Government has disclosed that the 11 power distribution companies in the country have submitted applications for the revision of their electricity tariffs.
The Nigerian Electricity Regulatory Commission (NERC) announced this in a notice published on Friday.
The request for rate review, according to NERC, is based on the need to incorporate changes in macroeconomic parameters, as well as other factors that impact these companies’ quality of service, operations, and sustainability.
NERC said the distribution companies’ applications for rate review are in accordance with Sections 116 (1) and 2(a) and (b) of the Electricity Act 2023, as well as other relevant regulations.
Some power distribution companies had recently announced that tariffs would be raised, with the increase set to take effect on Saturday, July 1.
Meanwhile, the Nigerian Labour Congress (NLC) urged the government to abandon its plans to raise electricity tariffs, citing insensitivity to consumers who are still suffering as a result of the removal of the petrol subsidy.
However, according to the NERC notice issued on Thursday, the increase is still possible, as distribution companies have now submitted applications for rate review.
“The request for rate review is premised on the need to incorporate changes in macroeconomic parameters and other factors affecting the quality of service, operations, and sustainability of the companies,” the regulatory body said.
NERC stated that it will conduct a Rate Case Hearing to assess these applications and make a ruling, following the procedures outlined in the Electricity Act.
“Accordingly, the Commission hereby invites the general public and all stakeholders to provide their comments and feedback on the rate review applications filed by the distribution licensees.”
It added that interested parties are advised to review the relevant excerpts from the applications and submit their comments or representations before the close of business on Thursday, July 20.
