Business Latest

NERC suspends hike on electricity tariff

Gencos, Discos deny receiving N200bn payment from Nigerian govt

In line with the agreement reached between the federal government and the organised labour, the Nigerian Electricity Regulatory Commission (NERC) on Tuesday night issued an order suspending the September 1, 2020 hike in electricity tariffs for 14 days.

The Nigeria Labour Congress (NLC) and the federal government had reached a truce on Sunday night to suspend the hike in electricity tariffs for 14 days.

The agreement led to the suspension of the planned industrial action by the organised labour, which should have commenced on Monday.

The electricity regulator issued an Order: NERC/209/2020 late Tuesday night with title, “NERC Order on suspension of the Multi Year Tariff Order 2020 for the electricity distribution licensees”, signed by NERC’s Chairman, Prof. James Momoh, and the Commissioner, Legal, Licensing and Compliance, Mr. Dafe Akpeneye.

Read also: NLC rejects new electricity tariff hike

The commission said, “This order shall take effect from 28th September 2020 and shall cease to have effect on the 11th October 2020.”

The commission had approved a new tariff for power distributors that took effect from September 1, 2020, but this was resisted by labour unions and many power users.

However, in its latest order, the NERC said the September 1, 2020 increase in tariff had to be suspended for 14 days based on the agreement between federal government and labour unions.

It directed the 11 power distribution companies across the country to abide by the order.

Join the conversation

Opinions

About the author

Ripples Nigeria

We are an online newspaper, very passionate about Nigerian politics, business and their leaders. We dig deeper, without borders and without fears.
www.ripplesnigeria.com

/* ]]> */