NERC raises electricity tariffs by over 45%:


 The Nigerian Electricity Regulatory Commission on Monday announced new tariffs payable by electricity consumers, indicating increase in charges for different categories of consumers across the country.The commission, however, abolished the fixed charges and declared that electricity users would only pay for what they consumed.About two weeks ago, the Minister of Power, Works and Housing, Mr. Babatunde Fashola, had hinted that the electricity tariffs would go up, insisting that the sector would record considerable improvement thereafter. NERC said the new electricity rates and its directive on fixed charges would take effect from the next billing period. Based on the new tariff regime so far released by NERC, residential consumers (R2) will pay on the average 48 per cent more than what they are currently paying as contained in the Multi Year Tariff Order 2.1 for 2015.
Indeed, consumers under the Abuja Electricity Distribution Company, who are paying N19.96 as energy charge currently, will now pay N29.56, representing an increase of 48.1 per cent; those under the Eko Disco will now pay N28.75 instead of N18.75, representing 53.3 per cent increase.Those under Ikeja, Kaduna and Benin Discos, who used to pay N14.96, N20.66 and N18.46 for a unit of electricity, will now pay N22.96, N31.71, and N27.72, respectively. These represent 53.5 per cent, 53.5 per cent and 49.62 per cent rise for the three Discos, respectively.
According to the document released by NERC, commercial consumers (C2) under the Ibadan and Enugu Discos, who used to pay N26.79 and N29.05 for a unit of energy, will now pay N38.87 and N42.4. These represent 45.1 per cent and 45.9 per cent increase in the respective rates. Bad one!

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