Tuesday, July 12, 2016

Electricity Firms Push for 100% Tariff Hike Again

Emerging reports have it that the electricity distribution companies are scheming for a further increment in the already high tariff of power in Nigeria despite the epileptic supply.
The electricity distribution companies in Nigeria known as DisCos are bracing up to further compound the woes of hyper-inflation in Nigeria today following a covert plan to increase power tariffs.
Power firms are pushing for a fresh 100 percent increase in electricity tariff, the second in six months, Daily Trust investigations have shown.
The electricity distribution companies (DisCos) raised tariff by over 45 percent in February. The DisCos had written to the regulatory authority, the Nigerian Electricity Regulatory Commission (NERC) demanding hike in tariff from the current average of N24 per kilowatt (for residential consumers) to N50 per kilowatt.

However, the Director General of the Manufacturers Association of Nigeria (MAN), Mr Remi Ogunmefun, told a reporter in Lagos that his association had opposed that move in writing to the NERC.

The NERC announced the 45 percent hike in electricity tariff with effect from February 1, 2016, and said the increase would enhance service delivery and customer satisfaction.

But since the increment, the electricity supply across the country has dropped affecting both household and commercial activities.

A source at the NERC confirmed to a reporter that the DisCos had written a letter seeking for the increase.
“When MAN got wind of the power firms’ letter seeking for the 100 percent hike, they equally wrote a letter countering the DisCos claims,” the source said.

The spokesperson of NERC, Mike Faloseyi, when contacted on Sunday, said he was not aware of the proposed hike but promised to get back to a reporter. When Daily
Trust contacted him yesterday, he said he was in a meeting but would consult with the commission chairman and get back to the reporter. But he never did.

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