{"id":77592,"date":"2021-01-08T02:45:37","date_gmt":"2021-01-08T01:45:37","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=77592"},"modified":"2021-01-08T02:45:37","modified_gmt":"2021-01-08T01:45:37","slug":"fg-suspends-hike-in-electricity-tariff-until-end-of-january","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/uncategorized\/fg-suspends-hike-in-electricity-tariff-until-end-of-january\/","title":{"rendered":"FG Suspends Hike In Electricity Tariff Until End of January"},"content":{"rendered":"<div id=\"m#msg-f:1688266690881551757\" class=\"mail-message expanded\">\n<div class=\"mail-message-header spacer\">The Nigerian Electricity Regulatory Commission has been directed to<\/div>\n<div class=\"mail-message-content collapsible zoom-normal mail-show-images \">\n<div class=\"clear\">suspend the planned bi-annual adjustment in electricity tariff until the<br \/>\njoint ad-hoc Committee concludes their discussion by the end of January.The directive was contained in a statement by the Minister of Power,<br \/>\nSale Mamman, on Thursday.<\/p>\n<p>NERC had on Monday, issued a circular regarding the planned bi-annual<br \/>\nminor review of electricity tariff across all bands between N2 per kWh<br \/>\nand N4 per kWh.<\/p>\n<p>The minister, in the statement, explained that the order is to ensure<br \/>\nthat a constructive conclusion is reached between the labour unions and<br \/>\nthe Federal Government.<\/p>\n<p>\u201cThe public is aware that FGN and the Labour Centers have been engaged<br \/>\nin positive discussions about the electricity sector through a joint<br \/>\nad-hoc committee led by the Minister of State for Labour and<br \/>\nProductivity and Co-Chaired by the Minister of State for Power,\u201d Mamman<br \/>\nsaid. \u201cGreat progress has been made in these deliberations which are set<br \/>\nto be concluded at the end of January 2021.<\/p>\n<p>\u201cSome of the achievements of this deliberation with Labour are the<br \/>\naccelerated rollout of the National Mass Metering Plan, clampdowns on<br \/>\nestimated billing, improved monitoring of the Service-Based Tariff, and<br \/>\nthe reduction in tariff rates for bands A to C in October 2020 (that<br \/>\nwere funded by the creative use of taxes).<\/p>\n<p>\u201cIt should be clear to all that the regulator must be allowed to perform<br \/>\nits function without undue interference. The role of the Government is<br \/>\nnot to set tariffs, it is to provide policy guidance and an enabling<br \/>\nenvironment for the regulator to protect consumers and for investors to<br \/>\nengage directly with consumers. Bi-Annual Minor reviews to adjust<br \/>\nfactors such as inflation are part of the process for a sustainable and<br \/>\ninvestable NESI.<\/p>\n<p>\u201cTo promote a constructive conclusion of the dialogue with the Labour<br \/>\nCenters (through the Joint Ad-Hoc Committee), I have directed NERC to<br \/>\nforestall the implementation of the duly performed minor review (which<br \/>\nadjusted tariffs between N2 per kWh and N4 per kWh) until the conclusion<br \/>\nof the Joint Ad Hoc Committee\u2019s work at the end of January 2021.<\/p>\n<p>\u201cThis will allow for the outcome of all resolutions from the Committee<br \/>\nto be implemented together.\u201d<\/p>\n<p>The minister stressed that the information by NERC was misinterpreted by<br \/>\nthe general public and there was a need for the government to speak up<br \/>\nand ensure sustainable growth in the electricity market.<\/p>\n<p>\u201cOn the contrary, @NigeriaGov continues to fully subsidise 55% of<br \/>\non-grid consumers in bands D and E and maintain the life line tariff for<br \/>\nthe poor and underprivileged,\u201d Mamman said.<\/p>\n<p>\u201cThose citizens have experienced no changes to tariff rates from what<br \/>\nthey have paid historically (aside from the recent minor inflation and<br \/>\nforex adjustment). Partial subsidies were also applied for bands A, B<br \/>\nand C in October 2020. These measures are all aimed at cushioning the<br \/>\neffects of the pandemic while providing more targeted interventions for<br \/>\ncitizens.<\/p>\n<p>\u201cThe Administration is committed to creating a sustainable, growing and<br \/>\nrules based electricity market for the benefit of all Nigerians.<\/p>\n<p>\u201cThe Administration and the Ministry of Power will also continue to<br \/>\ndevise means to provide support for vulnerable Nigerians while ensuring<br \/>\nwe have a sustainable NESI.\u201d<\/p>\n<\/div>\n<\/div>\n<div class=\"mail-message-footer spacer collapsible\"><\/div>\n<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The Nigerian Electricity Regulatory Commission has been directed to suspend the planned bi-annual adjustment in electricity tariff until the joint ad-hoc Committee concludes their discussion by the end of January.The&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":77593,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[17,1],"tags":[],"class_list":["post-77592","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exclusive","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - 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