Eleven electricity distribution companies in Nigeria have submitted applications to the Nigerian Electricity Regulatory Agency (NERC) to review their rates, News About Nigeria reports.
The companies, known as successor discos, are seeking a rate adjustment that aligns with the current macroeconomic conditions.
NERC issued a statement announcing the applications and inviting the public and stakeholders to provide their comments on the rate review requests.
The applications for rate review were made in accordance with Section 116 (1) and 2(a&b) of the Electricity Act 2023, as well as other existing regulations.
The successor discos emphasized the importance of incorporating changes in macroeconomic parameters and other factors that impact the quality of service, operations, and sustainability of their businesses.
NERC encouraged stakeholders and members of the public to carefully examine the rate review applications submitted by the distribution licensees.
The commission specifically called for comments and feedback, which can be shared through its website at www.nerc.gov.ng.
To ensure transparency and inclusivity, NERC will conduct a rate case hearing where the applications will be thoroughly examined. This hearing provides an opportunity for interested members of the public to participate and express their opinions.
The commission’s decision will be based on this process, which aligns with the rule-making procedure and the powers vested in NERC by the Electricity Act.
Individuals wishing to participate as intervenors in the proceedings can submit their applications to tariff@nerc.gov.ng before the close of business on July 20, 2023.
In a previous development, the distribution companies had planned to implement a 40% increase in electricity tariffs starting from July 1.
However, due to pressure from the Nigerian Labour Congress (NLC), the companies decided to suspend the tariff hike.
