Ahead of the April target for the likely introduction of new electricity tariffs, the Nigerian Electricity Regulatory Commission (NERC) has started nationwide consultations.
According to a notice by the Chairman of the NERC, Prof. James Momoh, the consultations will hold from February 25 to March 11 in 12 locations nationwide.
He said the NERC has received Extraordinary Tariff Review Applications from the eleven (11) Electricity Distribution Companies (DisCos) and the Transmission Company of Nigeria Plc (TCN).
He said the consultations will hold as follows: Eko Electricity DISCO (February 25); Kaduna (February 25); Abuja (February 26); Ikeja (February 26); and Ibadan, (February 28).
Others are Bauchi (February 28); Asaba (March 2); Calabar (March 2); Yola (March 5); Owerri (March 6); Kano (March 9); and the Transmission Company of Nigeria (March 11).
The notice reads in part: “Pursuant to procedures set out in Section 76 of the Electric Power Sector Reform Act 2004, the Nigerian Electricity Regulatory Commission adopted the Multi-Year Order (MYTO) methodology for electricity pricing in Nigeria, which sets out the basis and pricing principles for effecting minor and major reviews of electricity tariffs in Nigeria.
“The MYTO provides a tariff path for the electricity industry, with bi-annual minor reviews to take into account the impact of changes in a limited number of parameters (specifically inflation, U.S. Dollar exchange rate to naira, natural gas price and available generation capacity) and major reviews every five years, while all other value chain inputs are reviewed with stakeholders