FG Hikes Electricity Tariff by 50%

FG Hikes Electricity Tariff by 50%: The Nigerian Electricity Regulatory Commission, NERC, has approved over 50% hike in electricity tariff effective January 1, 2021. The new tariff hike regime is to be paid by customers of the 11 electricity distribution companies, DISCOs. This is coming just two months after the commission forced implementation of much opposed hike on Nigerians in November 2020. In a revised Multi Year Tariff Order (MYTO) signed by the new Chairman of NERC, Engr. Sanusi Garba, on December 30, 2020, the new tariff increase took effect on January 1, 2021, and supersedes the previous order NERV/2028/2020. This is effective until June 2021 while a Cost Reflective Tariff (CRT) expected to raise the new cost higher will be activated from June to December 2021, the NERC order revealed.

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