The National Electricity Regulatory Commission says the Federal Government has given licences to more than 50 independent power producers to ensure stable power supply under the new dispensation.
The NERC Commissioner for Marketing, Competition and Rates, Mr. Eyo Ekpo, told the News Agency of Nigeria in Lagos on Wednesday that the new tariff regime would attract more investors.
He said the new tariff had been categorised in favour of low- income households and small and medium enterprises.
Ekposaid some consumers’ bills would increase by as little as 11 per cent under the new tariff regime.
He said the bills of certain category of consumers, classified as ‘special customers’, including hospitals and street lights, would increase by less than 11 per cent.
Ekposaid that those in the R1 category, consisting of rural dwellers and the urban poor, would pay lower tariffs as they would still continue to enjoy subsidy from the Federal Government.
He said that those in the C1 group, consisting artisans and small businesses, would also pay low tariffs in line with the government’s policy of providing power to small and medium enterprises.
“In working out the tariff, we place the burden differently. We are to cross-subsidise those who cannot pay.
“As such, the cost of power to those in the R1 and C1 categories will still be low since they will enjoy part of the cross-subsidy,” he said.
The commissioner said NERC was charged with the statutory function of effecting major reviews of electricity tariff every five years.