Warning: getimagesize(https://media.energytimesonline.com/wp-content/uploads/2020/08/logo_n-removebg-preview-300x55.png): failed to open stream: HTTP request failed! HTTP/1.1 404 Not Found in /home/energytimes/public_html/wp-content/plugins/td-cloud-library/shortcodes/header/tdb_header_logo.php on line 792
Sunday, April 11, 2021
Home Uncategorized NERC orders suspension of electricity tariff hike till October 11

NERC orders suspension of electricity tariff hike till October 11

The Nigerian Electricity Regulatory Commission on Tuesday night directed the 11 electricity distribution companies to suspend the September 1, 2020 hike in electricity tariffs for 14 days.

It stated that all tariffs for end-use customers and market obligations of the DisCos during the 14-day suspension shall be computed on the basis of rates applicable as at 31 August 2020.

The regulator in an issued Order No. NERC/209/2020 titled, “NERC Order on suspension of the Multi Year Tariff Order 2020 for the electricity distribution licensees, signed by its Chairman, James Momoh, and the Commissioner, Legal, Licensing and Compliance, Dafe Akpeneye said: “This order shall take effect from 28th September 2020 and shall cease to have effect on the 11th October2020.”

Labour unions and the Federal Government had reached a truce on Sunday nightto suspend the hike in electricity tariffs for 14 days, a development that prompted the halt of a nationwide strike by labour.

The commission had approved a new tariff for power distributors that took effect from September 1, 2020, but this was resisted by labour unions and many power users.

However, in its latest order, the NERC said the September 1, 2020 increase in tariff had to be suspended for 14 days based on the agreement between Federal Government and labour unions.

“Following a joint communique issued by the Federal Government of Nigeria and the labour unions, the FGN agreed that the recent review in electricity tariffs would be suspended by the Commission for a period of 14 days to further consultations and finalisation of negotiations between the parties”.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

ETI appoints Fashina as Group Executive, Operations & Technology

Ecobank Transnational Incorporated (ETI), parent company of the Ecobank Group has announced the appointment of Tomisin Fashina as its new Group Executive for Operations...

Shell pays $3.243b to Nigeria’s govt in 2020

Shell, a global leading oil and gas producer on Wednesday published its 2020 Sustainability Report, its Industry Association Climate Review and its annual Payments...

Eni Makes Big Oil Find Offshore Angola

Eni has made a new light oil discovery in Block 15/06, in Angola’s deep offshore. The well has been drilled on the Cuica exploration...

DPR revokes Addax’s oil mining licenses for non-performance

.Re award licenses  to Kaztec and Salvic Consortium The Director Department of Petroleum Resources (DPR), Engr. Sarki Auwalu, has said that DPR revoked three Oil...

Recent Comments