Nigerian manufacturers, business owners to pay higher electricity prices - NERC

The Nigerian Electricity Regulatory Commission, NERC, said on Monday that a new tariff regime on gas supply to electricity producers in the country will to come into effect on Tuesday, according to premium times

The Chairman of the Commission, Sam Amadi, said in Abuja that based on the new arrangement, manufacturers and other business owners in the country would henceforth be paying higher electricity prices.

The Chairman refused to disclose what the new tariff would be, said that it would not adversely affect residential electricity consumers who are expecting a hike in electricity bills in line with the Multi Year Tariff Order, MYTO, the template guiding adjustments of electricity tariffs in the country.

Mr. Amadi said the pending new gas tariff regime would ensure adequate supply of gas to power plants towards improved and sustained power supply to attract new investors into the sector.

He said NERC would continue to ensure the tariff is cost-reflective, pointing out that the new measure would not constitute a burden on consumers immediately.

“For avoidance of doubt, there will be no increase in electricity tariff for residential consumers for six months until NERC begins to see improvement in electricity supply,” the Chairman said.

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