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Electric Power Sector Reform Act
A group, the All Electricity Consumers Protection Forum, said on Tuesday that it would oppose the proposed hike in electricity tariffs because it would further impoverish Nigerians.
The Nigerian Electricity Regulatory Commission (NERC), says the minor review order released by the Commission on January 3 has no immediate impact on end-user tariffs.
Speaking through their umbrella body, Association of Nigerian Electricity Distributors, the Discos explained that the new tariffs ordered by the Nigerian Electricity Regulatory Commission would cater for revenue shortfalls in the sector.
The federal government will continue to subsidise the gap in electricity cost to consumers pending the adjustment in tariffs announced by the Nigerian Electricity Regulatory Commission (NERC) on Saturday.
The Electricity Consumer Protection Forum on Monday opposed the request by power Generation Companies (Gencos) and Distribution Companies (DisCos) for N1.2 trillion bailout from the Federal Government (FG).
The Nigerian Electricity Regulatory Commission (NERC) on Wednesday served notices to eight electricity distribution companies (DISCOs) of its intention to revoke their operational licences if they fail within 60 days to remedy alleged ‘breaches of the terms and conditions of their power purchase agreements’.
Some stakeholders in the power sector have called on the Federal Government to fulfill its 40 per cent funding to electricity distribution companies (DISCOS) to enable them function effectively.
The Nigerian Electricity Regulatory Commission (NERC) says no tariff increase has been approved by the commission yet.
The Ministry of Power, Works and Housing has said an increase in electricity tariff can only be justified by widespread provision of meters and improved service delivery to customers.
Senate Committee on Power, Steel Development and Metallurgy has recommended a jail term of 10 years, without an option of fine, if found guilty to have conspired, counselled or accepted to procure or to hold in custody, stolen parts, components or pieces of a public power equipment.
Socio-Economic Rights and Accountability Project (SERAP) has sent an open letter to major presidential candidates for Nigeria’s February 16 election urging them to “publicly commit to revolutionary and innovative anti-corruption reforms in five key areas, such as security votes, power sector corruption, judicial corruption and removal of immunity for presidents, vice-presidents, state governors and deputy state governors.”
The federal government has accused electricity distribution companies (Discos) and the Transmission Company of Nigeria (TCN) of using substandard equipment to execute power projects.
The management of Ikeja Electric says it has commenced distribution of over 850,000 prepaid meters to its consumers in its six business units in Lagos.
The Nigeria Sovereign Investment Authority (NSIA) on Thursday said it paid about $417.46 million to the country’s electricity bulk trader, the Nigeria Bulk Energy Trading Company Plc (NBET).
The Eligible Customer policy introduced by the Federal Government in the power sector will lead to a 14 per cent increase in the electricity tariff payable by residential consumers across the country, power distribution companies have said.
DisCos, investors urge federal government to provide solution to N1.3 trillion electricity tariff gap
Electricity Distribution Companies and investors in the distribution chain have called on Federal Government to bridge the N1.3 trillion electricity tariff gap to enable DisCos meet their performance agreement with the government.
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