Business Nigeria: Why Electricity Tariff Could be Hiked in December

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LequteMan

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On Thursday in Abuja, the Nigerian Electricity Regulatory Commission (NERC) announced that the new gas price of $2.50/million British thermal unit (mmbtu) and transportation cost of $.80 would take effect from next month, fulfilling the August prophecy when the new gas price was first announced that electricity tariff in the country could be hiked before the year runs to an end.

However, here's some good news: the Commission said that the new price regime would eventually lead to more supply of gas to power plants at a public consultation on the minor review of the Multi Year Tariff Order (MYTO) II. DAILY INDEPENDENT says.

NERC Vice Chairman, Mohammed Bello who spoke at the forum said, though consumers complain of paying much for electricity while they are yet to see improvements, noted that “this is the process by which power supply will improve”.

NERC had in June this year announced the last tariff review which increased energy cost from N1 to N5 for various Discos.

#Nigeria #Electricity #NERC

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