Power distribution companies, on Monday, backtracked on their earlier announcement of a tariff hike projected to take effect from July 1, 2023, as they stated that the Nigerian Electricity Regulatory Commission (NERC) had yet to approve the hike.
Various public notices from some of the Discos seen on Sunday had stated that the electricity tariff would be raised by about 30 to 40 per cent for selected categories of consumers on July 1, 2023.
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In a public service announcement from the Abuja Electricity Distribution Company, for instance, the Disco had said, “Effective July 1, 2023, please be informed that there will be an upward review to the electricity tariff influenced by the fluctuating exchange rate.
“Under the MYTO (Multi Year Tariff Order) 2022 guidelines, the previously set exchange rate of N441/$1 may now be revised to approximately N750/$1 which will have an impact on the tariffs associated with your electricity consumption”.
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But in an appeal by the same AEDC, issued on Monday, the firm asked its customers to disregard the planned tariff increase as approval for such an increment had not been received.
“Please disregard the circulating communication, regarding the review of electricity tariffs. Be informed that no approval for such increments has been received. We regret any inconvenience,” the AEDC stated in its latest announcement.
A senior official in NERC confirmed that the regulator had not given the Discos approval to announce the hike in tariffs.