Tag
NERC
News and stories about NERC
The Federal Government asserts it needs approximately N3.2 trillion to subsidize electricity in 2024 should the current tariff hike be reversed.
The Organised Private Sector in Nigeria comprising the Manufacturers Association of Nigeria (MAN), Nigerian NACCIMA, NECA, NASSI and NASME has stated that over 65% of businesses in Nigeria may shutdown due to the over 200% hike in electricity tariff by the federal government.
The Federal High Court Abuja has been asked to stop NERC's classification of electricity consumers.
The Transmission Company of Nigeria (TCN) has confirmed the full restoration of the national grid that collapsed earlier today following a fire incident at the Afam Power Generating Station, in River State.
The Ikeja Electricity Distribution Company has announced an addition of 34 new Band A feeders to its network with a view to increasing power supply to customers.
The Federal Government is set to redirect about N1 trillion savings from the electricity subsidy removal to social services and power supply improvements across the country.
The Transmission Company of Nigeria (TCN) has refuted claims that it is responsible for the Ibadan Electricity Distribution Company’s (IBEDC) inability to provide the estimated hours of supply to customer feeders.
Adebayo Adelabu, the Minister of Power, has said that the revised electricity tariff for Band A customers could decrease if the Naira strengthens against the Dollar in the foreign exchange market, indicating that the rates are not fixed.
The Minister of Power, Adebayo Adelabu, has said that the federal government will sanction power distribution companies (DisCos) that fail to supply 20 hours of electricity to customers in the Band A category.
In reviewing the new electricity tariff for Band A consumers, the Nigerian Electricity Regulatory Commission (NERC) made use of important indices in determining the electricity tariff. These indices or assumption range from Nigeria and the United States inflation rate, exchange rate, generation capacity, gas to power cost etc.
The Abuja Chamber of Commerce and Industry (ACCI) has voiced its worries about the recent rise in electricity prices, highlighting potential threats to the long-term viability of businesses.
The Ibadan electricity distribution company has announced the date to begin implementation of the new electricity tariff for Band A consumers to be April 3, 2024.