The Nigerian Electricity Regulatory Commission (NERC) has approved new energy tariff for the electricity distribution companies (DisCos) in the country.
The commission made this known on Wednesday, August 21st in a series of publications tagged ‘2016-2018 minor review of the 2015 multi year tariff order’ (MYTO) for each DisCo. .
According to the documents, the order became effective from July 1, 2019. The DisCos had cited lack of cost-reflective tariff as its major challenge on the sector, which has also prevented them from investing in their networks. .
In 2018, the DisCos claimed they are incurring huge losses as they buy electricity at N80.88 and sell to consumers at N31.50, recording a shortfall of N49.38 per kilowatt. .
. “The objectives of this Order are to reflect the impact of changes in the Minor Review variables for the period 2016 2018 to determine the cost reflective tariffs for the relevant years; and to ascertain revenue shortfalls in view of the differential between such tariffs and allowed tariffs in the Nigerian Electricity Supply Industry (“NESI”),” NERC said.
| Posted: at | |
WhenYouThinkAboutIt
kp45
kennynaija
kaposky
EMMYBOSS
TRENDING GISTS 
Davido Reacts After Music Producer, Napji Called Him Out Over Unpaid Royalties
Ned Nwoko Showers Praises On Wife, Regina Daniels Over Her Beauty
JUST IN! Lead British School, Abuja Shut Down Over Constant Bullying
Dana Air Plane Veered Off The Runaway While Landing In Lagos
OAP Do2dtun Reacts To Viral Bullying Videos, Calls Out Secondary School Bullies