The Federal Government has announced that the 11 power distribution companies in Nigeria have applied for the review of their various electricity tariffs to incorporate the changes in the macroeconomic parameters across the country.
This was disclosed through a notice published by the Nigeria Electricity Regulatory Commission adding that the reason for the Discos request was premised on factors affecting the quality of service, operations and sustainability of the companies.
In June, some power distribution companies announced that there would be a hike in tariff effectively from July 1, 2023.
The date was, however, backtracked after widespread criticisms, and since the Nigerian Electricity Regulatory Commission was yet to approve the hike.
With the announcement of NERC on Thursday, that the power firms had applied for a review of their respective tariffs, it might seem that the tariff would eventually take effect.
In the notice from the regulator, it said, “Pursuant to Section 116 (1) and 2(a&b) of the Electricity Act 2023 and other extant rules, the 11 successor electricity distribution companies have filed an application for rate review with the Nigerian Electricity Regulatory Commission.