New Electricity Tariff Will Attract Fresh Investors – NERC
The Chairman of the Nigerian Electricity Regulatory Commission (NERC), Prof James Momoh, has said that the reviewed electricity tariff would not only attract more investments to the power sector, it will enable existing investors to recoup their investment.
Speaking during a working visit to the Abuja Electricity Distribution Company (Disco), Momoh, said the new tariff regime will enable the Discos to provide efficient services to customers all over the country.
The NERC introduced an increased service reflective tariff in September this year, which was later adjusted downwards by the Federal Government after protests by labour unions and other members of the public.
The tariffs vary according to the status of a customer and number of hours of electricity supplied to the customer too. The new tariff later took effect after labour and government agreed on its implementation.
“The gaps that have been identified, especially with respect to tariff, are issues that the entire commission has been having sleepless nights about and working day in and out on.
“We hope that at the end of the day, the commission will take the credit that it is during our tenure that we are able to ensure that the sector is equipped such that people can come to Nigeria to invest because they can now recover money for their investments,” the NERC boss stated,
The NERC boss also urged power firms and the AEDC to deploy advanced technologies to cater for the electricity needs of their customers.
“You (AEDC) need to have the technology that will detect faults before they happen, a new technology that will help detect if a fault is imminent and provide control action to halt electrocution and all similar incidents within your network,” he stated.
While welcoming the NERC delegation, the managing director of the AEDC, Ernest Mupwaya, said the implementation of service reflective tariff in the sector would enhance power delivery across the country.
Mupwaya said the sector was currently moving towards a scenario where power operations and activities would work better, as tariff issues had been addressed to some extent. He said it was good the commission realised that customers need service based tariff commensurate with service.
By Chibisi Ohakah, Abuja