Increase in inflation and FOREX
NERC in a statement on Tuesday confirmed the adjustment of the electricity tariffs between two naira and four naira, saying it was to reflect the increase in inflation and foreign exchange rates.
According to the statement, the Commission said although tariff increases for Bands D and E (Customers getting power below 12 hours daily) remain ‘frozen’, it, however, admitted that the tariff rates for these classes of customers were also “adjusted’ upwardly.”
The statement said: “In compliance with the provisions of the Electric Power Sector Reform Act (EPSRA) and the nation’s tariff methodology for biannual minor review, the rates for service bands A, B, C, D and E have been adjusted by N2.00 to N4.00 per kilowatt-hour (kW-hr) to reflect the ‘partial’ impact of inflation and movement in foreign exchange rates.
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Chairman of the MPH electricity committee, Abdulrauf Taha, told Daily Trust that the residents of the community have had several meetings with KEDCO and NERC, yet they are slammed with outrageous bills of between N40,000 to N250,000 monthly.
Taha said: “These outrageous bills are coming in monthly. We have a situation whereby a one-bedroom apartment is billed N170,000 and a three bedroom is billed N250,000. In fact, the least bill is about N40,000. So we don’t know the criteria they are using and the question is, what happened to the government’s capping systems?”
He described the several meetings with NERC and the disco as fruitless since KEDCO had not implemented any of the recommendations and is yet to be sanctioned by the regulatory agency.