• The Nigerian Electricity Regulatory Commission (NERC) has lifted the temporal ban it placed on electricity tariff increment for residential customers nine months ago.
  • The ban was lifted by the commission during a presentation yesterday in Abuja at a public consultation on the minor review of the Multi-Year Tariff Order (MYTO 2.1).
  • The commission disclosed that the moratorium billed to have lapsed by July 1, 2015, would now take effect after distribution companies have completed their own consultations and remodelling of their tariff plan.
  • According to them, the new indicators in the minor review include inflation 8.3 per cent, up from 7.8 per cent; exchange rate N198.97 to the dollar, up from N166.18; energy sent out from stations 32,921GWH, up from 28,038GWh; revenue requirement N619 billion, up from N572 billion; average retail tariff N23.8, down from N26.8.
  • This new review holds that the wholesale contract price is now N16,263/MWh for new entrant generators while the wholesale contract price for Geregu Power Plc is now 15,794/MWh.
  • By implication, while the energy charge has automatically changed for all categories of consumers except those in the R1 class, residential consumers in the R2 class served by the Abuja Distribution Company may have to now pay energy charge of N18.41/KWh, up from the frozen charge of N14.70.