By John Ofikhenua, Abuja
The Nigeria Electricity Regulatory Commission (NERC) on Thursday moved to remove historical related liabilities from the financial records of DisCos.
NERC said that the order No. NERC/196/2020 that it issued yesterday seeks to resolve the continued accumulation of future tariff related shortfalls during the transition to cost reflective tariffs and to prevent the accrual of new liabilities in the financial records of DisCos.
It directed all the 11 electricity distribution companies (DisCos) to fully settle all the invoices they receive from the Nigerian Bulk Electricity Trading Company (NBET) in line with the applicable tariff shortfall and the the 2019 Minor Review of MYTO 2015
and Minimum Remittance Order for the year 2020.
The essence of the order, according to the commission, is the removal of historical tariff related liabilities from the financial records of DisCos.
The order which the commission posted on its website yesterday, it said that…