The Nigerian Electricity Regulatory Commission (NERC) has agreed to review its stand on the new electricity tariff.
Naija News learnt that the Chairman of the NERC, Prof. James Momoh, the consultations will hold from February 25 to March 11 in 12 locations nationwide.
He said the NERC has received Extraordinary Tariff Review Applications from the eleven (11) Electricity Distribution Companies (DisCos) and the Transmission Company of Nigeria Plc (TCN).
He said the consultations will hold as follows: Eko Electricity DISCO (February 25); Kaduna (February 25); Abuja (February 26); Ikeja (February 26); and Ibadan, (February 28).
Others are Bauchi (February 28); Asaba (March 2); Calabar (March 2); Yola (March 5); Owerri (March 6); Kano (March 9); and the Transmission Company of Nigeria (March 11).
The notice reads in part: “The Nigerian Electricity Regulatory Commission has received Extraordinary Tariff Review Applications from the eleven (11) Electricity Distribution Companies (DisCos) and the Transmission Company of Nigeria Plc (TCN) seeking approval for the following:
“The DisCos have each submitted Performance Improvement Plans (PIP) covering the period 2020-2024 in which the utilities made a case for new capital expenditure allowances over and above the provision in the subsisting MYTO 2015. The justifications advanced included the need to embark on a more aggressive loss reduction, improvement of customer service and the deployment of state-of-the-art-technology to improve delivery.
“The Transmission Company of Nigeria Plc has filed a request for a review of its revenue requirement as a result of its reported significant additional investments in infrastructure currently not captured in its Regulatory Asset Base (RAB). The current stakeholder Consultation process is focusing on a review of the rates for the provision of spinning reserves by GenCos.”
A source in NERC, however, said during the consultations, consumers have the opportunity to comment on what the DisCos are doing right or wrong and additional service needed. They are free to either endorse the new tariff or reject it