JustForex Trading - Start Now

Metro Nigeria to Raise Electricity Rates by 40% in Next Month

#1
The Chairman of the Electricity Regulatory Commission, Dr. Sam Amadi has said that electricity tariffs will increase by 5%, while some other prices will raise as much as 40%, depending on the electricity distribution companies and class of customer, adding that the changes in rates would take place in mid November.

According to source, Plans have been concluded to increase electricity tariffs by as much as 40 per cent for some customers next month as a fall in the value of the naira and rising costs hinder efforts to end daily blackouts in Africa’s largest economy.

erc.jpe “We are working on the numbers and going through the processes,” Bloomberg quoted the Chairman, Nigerian Electricity Regulatory Commission, Dr. Sam Amadi, as saying.

According to him, some tariffs will increase by five per cent, while others will see prices raised as much as 40 per cent, depending on the electricity distribution companies and class of customer, adding that the change in rates would take place mid-November.

After proposing to NERC last week an average increase of 49.4 per cent in electricity tariffs for residential customers, the power distribution companies have also sought a hike in the rates payable by commercial consumers by 21 per cent on the average. Their demands, however, are subject to approval by NERC, the regulator of the power industry.

A copy of the proposed tariff for residential customers by the power firms showed that the average percentage increase in tariff as presented by 10 Discos was 49.4 per cent.
 
[1525]
advertise on Nigerian Bulletin - see rates per week
advertise on Nigerian Bulletin - see rates per week
Your email address will not be publicly visible. We will only use it to contact you to confirm your post.
Top