NERC Approves New Electricity Tariff
THE Nigerian Electricity Regulatory Commission (NERC) on Thursday, released documents confirming tariff increase approval for six Distribution Companies (DisCos) which became effective in January 2022.
The document ORDER NO: NERC/299/2021 titled: the multi-year tariff Order 2021 was dated 29th December, 2021 and jointly by the Commission’s Chairman, Sanusi Garba and Vice Chairman, Musiliu Musiliu Oseni.
The DisCos are Port Harcourt Electricity Distribution Company (PHEDC); Jos Electricity Distribution Company (JEDC); Kano Electricity Distribution Company (KEDC); Kaduna Electricity Distribution Company (KEDC); Ikeja Electricity Distribution Company (IKEDC) and Ibadan Electricity Distribution Company (IBEDC).
According to the Commission, the approval was pursuant to the Extraordinary Tariff Review Application and Performance Improvement Plan (PIP) filed by each of the DisCos. It said the MYTO 2022 Order restates the DisCos approved 5-year Capital Expenditure (CAPEX) and relevant assumptions applied to forecast revenue requirements and applicable tariffs for the period 2021 to 2026 in line with the MYTO Methodology and Regulations on procedures for Electricity tariff reviews in the industry.
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