Nigeria raises electricity tariff for big consumers, says subsidy will drop by $864mn for FY 2024The Nigerian Electricity Regulatory Commission (NERC) has said newly approved electricty tariffs affecting big power consumers will curtail subsidies by NGN1.14 trillion ($864mn) for the fiscal year ...
In a regulatory instrument cited as Multi-Year Tariff Order (MYTO-2022) for Port Harcourt Electricity Distribution Company Plc (PHED”), NERC based the increase on the Performance Improvement Plans of the DisCos and indices such as gas price, inflation, exchange rate, US inflation rate and avai...
“The 50 percent hike in electricity tariff will have a negative ripple effect on virtually every sector that depends on electricity. You will agree with me that manufacturing and other key sectors are hinged on power. Ironically, the increase in electricity tariff just like previous hikes does ...
Increase in Electricity Tariff; Customers to Pay More The latestnewsto storm Nigerians after a trying period this year is the increase in electricity tariff. As approved by the Regulator; the revised Service Reflective Tariff (SRT) would take electricity tariff plans a spike higher; resulting in ...
SEATTLE (Oil Monster): Oil workers have warned the federal government against any hike in electricity tariff. The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) said consumers should not be forced to pay for services that are not rendered. ...
The United States, yesterday, disclosed that Nigeria’s inability to eliminate subsidy on petroleum products and failure to hands off the fixing of electricity tariffs is hampering the provision of critical social infrastructure in the country.
Extending the lifeline tariff would reduce TANESCO’s commercial viability and risk political intervention. Increasing investments in overloaded distribution grids to increase reliability provides a similar challenge: it would strain the company’s resources without significantly improving its revenue base. ...
“There is a direct implication of electricity tariff hike on us. I can tell you authoritatively that we are the largest employers of labour after government. We have a lot of workers under the hospitality industry in Nigeria. “Due to this Covid-19, a lot of our workers were sent ho...
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The tariff system does not offer incentives to consumers to manage their power demand. There is evidence that industry would be open to a tariff system that would allow them to manage their power loads and consequently their electricity bills. In addition, electricity tariffs are not based on ...