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.
Two months after, NERC silently hikes electricity tariff again peoplesdailyng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from peoplesdailyng.com Daily Mail and Mail on Sunday newspapers.
New Electricity Tariff: Government Not Sensitive To Plights Of Nigerians, Says NLC
The regulatory agency blamed N2 to N4 adjustment in tariff on inflation and movement in foreign exchange rates.
The Nigeria Labour Congress has said the Nigerian government is insensitive to the plight of Nigerians by increasing the electricity tariff payable by power consumers across the country.
The Nigerian Electricity Regulatory Commission had on Tuesday approved a new tariff increase, noting that the hike which varies based on different consumer classes, took effect from January 1, 2021.
The regulatory agency blamed N2 to N4 adjustment in tariff on inflation and movement in foreign exchange rates.
Electricity Tariff Hike: FG Only Adjusted Bands For Effectiveness - Keyamo thebreakingtimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thebreakingtimes.com Daily Mail and Mail on Sunday newspapers.
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• Increase between N2 and N4 reflecting impact of inflation, forex – Commission
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The Federal Government has again increased the electricity tariff payable by power consumers across the country.
Approval for the hike in tariff was given by the Nigerian Electricity Regulatory Commission, as the increase which varies, based on different consumer classes, took effect from January 1, 2021.
A few hours after the news of the tariff hike broke, the NERC issued a statement, denying a 50 per cent hike as had been reported in some circles (excluding
THE PUNCH).
The regulatory agency blamed N2 to N4 adjustment in tariff on inflation and movement in foreign exchange rates.