Power sector loss hits N1.7trillion


John Ofikhenua and Tony Akowe, Abuja

 

THE Nigeria Electricity Regulatory Commission (NERC) on Thursday said that the entire market participants in the Nigeria Electricity Supply Industry (NESI) recorded a total of N1.7 trillion tariff-related shortfall between 2015-2019.

It insisted that in view of the fact that the core investors in electricity distribution companies (DisCos) are under contractual obligations to reduce the loss levels in the industry, it is expected that tariffs would eventually come down as a result of the efficiency gains and increased energy throughput.

It would be recalled that the National Assembly has prevailed on NERC to suspend the implementation of the tariff increase.

But the  commission on Thursday said that in order to mitigate the impact of rate shock on consumers, it is proposed that the gradual increase shall commence on April 1, 2020.

In a document titled “Consultation paper on the proposed extra -ordinary  tariff review of the MYTO -2015…



Read All From The Original Article on The Nation

%d bloggers like this: