The Nigeria Electricity Regulatory Commission (NERC) has requested the views of the public on the proposed tariff hike requested by 11 electricity distribution companies.
Some of the policies of the new administration especially the foreign exchange unification have further caused the Naira to fall, affecting the price of items and deepening hardship.
At a meeting last month, the DisCos complained at a meeting about the impact the recent policy changes in the administration of President Bola Tinubu have had on their operations. In particular, the unification of the exchange has increased U.S. dollars value and is affecting their ability to procure equipment and other materials to meet their statutory duties.
In the notice by NERC, however, the regulator said that consumers’ comments would help in gauging public opinion, which would help in deciding the modality regarding the proposed tariff rate increases.
In the public notice titled “Notice of Application for Rate Review by the Electricity Distribution Companies,” the NERC confirmed that it has received applications for rate hikes from all the DisCos, which provided reasons for the rates to go up.
The commission said: “The request for rate review is premised on the need to incorporate changes in macroeconomic parameters and other factors affecting the quality of service, operations, and sustainability of the companies.”
The development from the regulatory agencies comes following intense pressure on the commission from the DisCos to approve rate adjustments.
In the public notice, NERC had urged customers to submit their comments on or before July 20, 2023, to “[email protected]”.
in doubt, the commission advised customers and stakeholders to review and take into consideration the excerpts of the rate review applications filed with the commission by the respective licensees.
“The applications can be accessed on the commission’s website at www.nerc.gov.ng.”
A concerned customer, Rose Ogbusua, reportedly urged customers to flood the commission’s website with their rejection of the proposed rate hike from the Discos, saying, “How are we going to survive in this country with this new rate? It’s just too much.”
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