Tag: NERC
NERC Announces Deregulation of Meter Prices Under MAP Scheme
In a significant development, the Nigerian Electricity Regulatory Commission (NERC) declared on Monday the deregulation of meter prices for meters utilized in the Meter Asset Provider Scheme (MAP). The decision to free up meter prices comes following appeals from Meter Asset Providers (MAPs) and other industry stakeholders for a review of meter prices, considering significant…
Minister of Power Signals Potential Decrease in Electricity Tariff as Exchange Rate Improves
Adebayo Adelabu, the Minister of Power, has hinted at a possible reduction in electricity tariffs for Band A consumers once the exchange rate falls below N1,000 to a dollar. The current tariff for Band A stands at N225 per Kilowatt-Hour (KWh). In a recent statement, Minister Adelabu emphasized the flexibility of the tariff structure, suggesting…
NERC Directs DisCos to Clarify New Tariff Implementation
In response to the April 2024 Supplementary Multi-Year Tariff Order, the Nigerian Electricity Regulatory Commission (NERC) has issued a directive to all Electricity Distribution Companies (DisCos) aimed at ensuring clarity and fairness in the implementation process. The directive mandates DisCos to take the following actions: This directive underscores NERC’s commitment to ensuring equitable practices within…
NERC Fines AEDC ₦200 Million for Violation of Tariff Order, Orders Customer Refunds
In a bid to enforce compliance with regulatory measures and uphold consumer rights, the Nigerian Electricity Regulatory Commission (NERC) has levied a hefty fine of ₦200 million against the Abuja Electricity Distribution Plc (AEDC). The sanction comes as a consequence of AEDC’s failure to adhere to the Supplementary Order to the April 2024 Multi-Year Tariff…
Manufacturers and Labour Oppose Government’s Electricity Tariff Hike
Manufacturers and organized labor unions have expressed vehement opposition to the Federal Government’s recent decision to increase electricity tariffs by a staggering 240 percent for consumers receiving a 20-hour power supply. The move has sparked concerns about the potential impact on businesses, inflation rates, and the welfare of citizens. The decision to remove the electricity…
Nigerian Electricity Regulatory Authority Announces New Tariffs to Boost Infrastructure
In a bid to bolster the nation’s transmission infrastructure, the Nigerian Electricity Regulatory Commission (NERC) has unveiled a new electricity tariff affecting approximately 15% of its customer base. Effective immediately, the tariff adjustment will see electricity prices surge from N68 to N225 per kilowatt-hour for select consumers. The announcement was made by Musiliu Oseni, Vice…
FG Announces Rise in Electricity Tariff
In a significant development, the Nigerian Electricity Regulatory Commission (NERC) has approved an increase in electricity tariffs for customers falling under the Band A category. The decision was unveiled during a press briefing held in Abuja on Wednesday, with the Vice Chairman of NERC, Musliu Oseni, making the announcement. Effective immediately, customers in the Band…