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NIGERIAN ELECTRICITY REGULATORY COMMISSION
NERC has commended Ikeja Electric for showing a strong commitment to solving issues militating against the growth of the sector.
Egbin power plant accounted for the highest share with 14.82% of the total energy output.
The hike in electricity tariff is considered ill-timed by many especially in the face of hikes in fuel price and value-added tax.
Discos have been warned to compensate consumers should they fail to supply them the required amount of electricity in the new tariff regulation.
FG says no electricity tariff increase for poor, vulnerable Nigerians, gives conditions for increase
DISCOs have been given conditions under which electricity tariffs can be reviewed and increased.
NERC said President Buhari remains committed to protecting Nigerians arbitrary/estimated billings.
Electricity Tariff hike is set to go live on September 1, 2020.
The apex bank instructed all DisCo collections and remittances of the DisCos to both NBET and TCN will now be the responsibility of banks providing guarantees to DisCos.
The NERC has suspended the payment of the new electricity tariffs earlier scheduled to take off today, April 1, for at least three months.
A report by the Association of Nigerian Electricity Distributors has shown that the DisCos in Nigeria recorded 8% growth in their revenue collection.
The NERC said it had repealed the estimated billing methodology regulation, effective February 20th, 2020.
DisCos in Nigeria have responded to the threat of the Nigerian Electricity Regulatory Commission (NERC) to cancel licences issued to eight firms