The Nigerian Electricity Regulatory Commission today announced the immediate review of electricity tariffs by about 50 per cent.
The Chairman of the Commission, Sam Amadi, who announced the review in Abuja, said the reduction, which takes effect from the end of March, followed the regulatory agency’s decision to remove collection losses from customer tariff under the multi-year tariff order.
Mr. Amadi said following the approval of the multi-year tariff order, MYTO 2.1 in January 1, 2015, the Commission had received several complaints and petitions against the decision, which resulted in astronomical increases in tariff across the different consumer categories.
He noted particularly the petition by industrial and commercial consumers under the auspices of the Manufacturers Association of Nigeria, which demanded a drastic reduction of their tariffs.
The two categories of consumers had cited the negative impact of their increased tariffs, which they said were threatening their businesses, leading to massive job losses.
Following the review of the petitions, Mr. Amadi said the Commission conducted public hearings to gather evidence from all consumer classes on the affordability of the new tariff.
Again, he said the Commission had consulted with the Chief Executive Officers of the Distribution Companies before deciding to intervene by reviewing the tariffs.
Besides, the Chairman said the Commission also decided to review the technical and financial assumptions of multi-year tariff order 2.1.
The reviews, he noted, were in line with the provisions of the Electricity Power Sector Reform Act 2005 and the Business Rules of the Commission’s mandate, which allow such a decision on a petition by an interested party within 60 days.
He said findings from the various reviews showed that the major cause of the spiralling consumer tariffs was the huge aggregate technical commercial and collection losses.
Some distribution companies have complained that the collection losses, which are passed to consumers, raised the final tariffs by as much as an average of 80 and 103 per cent.
“The Commission has been listening to consumers’ complaints and taking full account of the impact of the high tariff on consumers and the Nigerian economy,” Mr. Amadi said.
“Therefore, the Commission has reviewed the basis of the MYTO 2.1 assumptions and has determined that it is inappropriate to transfer to consumers collection losses that are controllable by the DISCOs (distribution companies),” he announced. Click to signup for FREE news updates, latest information and hottest gists everyday
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Reduce tariff or restore back the tarrif from its formal price.
ReplyDeleteIt's getting worse everyday from 2 days (4hrs) ON a day OFF to 1day (2hrs) ON 1day OFF.
I dey Laugh!!!!
then after the election, you will increase by 100% GEJ I and my family have decied you pass; you passout, you fail you fail out bye bye with our 22 votes #bringbackourgirls
ReplyDeleteYou win kill me with lafta? Anyway, we are on the same page. God will deliver our land from poor and bad leadership in Jesus name. " For the oppression of the poor, for the sighing of the needy, now will I arise, saith the Lord; I will set him in safety from him that puffeth at him" Psalm 12:5
DeleteBecause of election, abi? After then, upward review without questioning. Up NERC, great monopolist.
ReplyDeleteI hope this price review will cover both pre-paid and old manual meter users. Fairness for everybody.
ReplyDeleteWhere is the electricity? This people must think they are dealing with fools, are these companies government owned? No. They are owing the banks heavily and they are reducing tariffs. All in the name of electricity. Fraudulent thugs.
ReplyDeleteIn the federal capital territory, we don't see light especially in Gwarinpa. We're just paying for what we don't get..That's so bad. God is watching.
ReplyDeleteGood question, where is the electricity we now live in stone age in Nigeria!
DeleteAs in gwarinpa light sad gan...
DeleteApc in grates! . The masses cried and a listening government which President Good luck has been noted for, intervene yet some who want power at all cost read meaning to it. What is it ?. Do you think this country belong to only one Set of people?. This is not the only time since the inception of this government that policies are reversed due to the feeling of the masses. Fuel subsidy, increased in fuel price, national conference, 6 years single term are just few of the examples, we're these still due to election?. A listening government is a listening government, let give it to GEJ and vote him in again to consolidate. Am expecting APC to condemn this action formally later. It is expected!
ReplyDeleteNobody mentioned APC here, why are you showing off your ignorance? I don't belong to any party but GEJ can't get my vote. And the reason isn't because of sentiments but because he has not done well. Anyone supporting him must be enjoying something from his govt. There's no other logical reason to support him. And that's the simple truth and not a reason for anyone to fight as we are all entitled to our opinion.
DeleteWell spoken
DeleteYou have said it all.
DeleteListening govt indeed,wen he has something to loose abi.election gimmicks. Ur re so ignorantly daft
DeleteThese PDP thugs are never relenting in trying to paint black white. I admire their efforts. May all PDPs supporter's life be run just the way GEJ is running Nigeria. May your generations experience GEJs transformation agenda just the way it was implemented so far by your admirable Jonathan. My sister graduated with second class upper division and no work since 3 years. I say again your life shall be run forever just the way Jonathan is running Nigeria. Old idiotic fools! Lovers of gold, money and blood!
ReplyDeleteI admire your comment. This is the best response for all GEJ supporters. The thing is, when people get sick and tired all they want is change. That's why the change revolution is coming. It is coming!
DeleteShe should have gotten a job unless she's overaged or totally misinformed...Jonathan will not come and drag her hand and give her job..its so easy to get a job in Nigeria now than when I graduated from school 10yrs ago and to be frank I have a 3rd class and still have a good job because I added the necessary skills needed...I was informed!
DeleteU were informed or had connections dat made u nt read well in school.jobs re everywhere if u re willing to settle for 30k dat cant transport n feed u
DeleteThey dint talk abt the fixed assess charge of N 787 o , dey beta remove dat fee cos i don see wat we are payin dat for
ReplyDeleteI agree wit u 100%
DeleteThat is good and temporal. This is just for the upcoming election. Things of this nature are not and will not be permanent. Pump prize of petrol was reduced to N87. Here in Enugu we buy at N100. Some reputable ones that have the product are not selling because the situation is uncertain. That is what we have seen in this administration. Jonathan Goodluck is a hit and run president. He will always do things with alterio motive. Jonathan you have failed. This is not real as we all know. How can you talk of reducing tariff when the busines of power had been outsourced. The economy is dying. Prices of imported goods are on the increase. Electricity installations are becoming more expensive. You have to pay the expatriates more for their services. How then can you be talking about price slash? What about the monthly service charge? Is it not better that is taken away? Which meter has PHCN staff serviced? Do they know the components that make those meters up? Same group told us that for the private investors in the energy sector to break even, the tariff has to go up, or is it that they are no longer in Nigeria again to continue with their business. If that is so, then your so called transformation agenda should be questioned. Like I said, this government delights in doing Hit and Run. Jona, don't be in a hurry to approve reduction in prices because these are all election gimmicks. We all know. You can do better than this please. Also can't you call your wife to order? She is causing you so much in terms of acceptance by the electorates. Or is she your husband while you are the wife? Please look into this, else you loose my vote and that of my family members.
ReplyDeleteWell said. Wot meter ve dey serviced dat they no nothing about yet we pay service charge. My meter was serviced by one of dem for #7500, dat same month my crazy bill started.power is pathetic in nigeria
DeleteThe maintenance fee being charged on prepaid meters should also be abolished as it is fraudulent since no one maintains anything.
ReplyDeleteU spoke my mind
DeleteThey want cajole us.
ReplyDeleteSorry, it wont work as we have decided to vote for the General who will bring permanent solutions to the multi-facet problems caused by the PDP.
WE HAVE DECIDED TO VOTE GMB
Reduce tariff 4 what nah. This Jona and his desperation self. Reduce petrol to #87 and we're buying it now 4 #100. Electricity wey no dey see, u don come again say 50% reduction 4 tariff. Nothing spoil! We go vote 4 u and Hippo wife.
ReplyDeleteSo they can still break even with 50% reduction in electricity tariff, why d increase in the first place, pump price from N97 to N87 but we still buy at N100, Dangote cement was reduced to N1000, we still buy at N1900, hmmmm. God please come and deliver us from their hands... all these announcements look political to me anyway.
ReplyDelete