₦airaland Forum

BREAKING: Nigerian government cuts electricity tariff by 50%

The Nigerian government has announced a reduction in electricity tariffs by half.

The Nigerian Electricity Regulatory Commission on Wednesday announced the immediate review of electricity tariffs by about 50 per cent.

The Chairman of the Commission, Sam Amadi, who announced the review in Abuja, said the reduction, which takes effect from the end of March, followed the regulatory agency’s decision to remove collection losses from customer tariff under the multi-year tariff order.

Mr. Amadi said following the approval of the multi-year tariff order, MYTO 2.1 in January 1, 2015, the Commission had received several complaints and petitions against the decision, which resulted in astronomical increases in tariff across the different consumer categories.

He noted particularly the petition by industrial and commercial consumers under the auspices of the Manufacturers Association of Nigeria, which demanded a drastic reduction of their tariffs.

The two categories of consumers had cited the negative impact of their increased tariffs, which they said were threatening their businesses, leading to massive job losses.

Following the review of the petitions,
Mr. Amadi said the Commission conducted public hearings to gather evidence from all consumer classes on the affordability of the new tariff.

Again, he said the Commission had consulted with the Chief Executive Officers of the Distribution Companies before deciding to intervene by reviewing the tariffs.

Besides, the Chairman said the Commission also decided to review the technical and financial assumptions of multi-year tariff order 2.1.

The reviews, he noted, were in line with the provisions of the Electricity Power Sector Reform Act 2005 and the Business Rules of the Commission’s mandate, which allow such a decision on a petition by an interested party within 60 days.

He said findings from the various reviews showed that the major cause of the spiralling consumer tariffs was the huge aggregate technical commercial and collection losses.

Some distribution companies have complained that the collection losses, which are passed to consumers, raised the final tariffs by as much as an average of 80 and 103 per cent.

“The Commission has been listening to consumers’ complaints and taking full account of the impact of the high tariff on consumers and the Nigerian economy,” Mr. Amadi said.

“Therefore, the Commission has reviewed the basis of the MYTO 2.1 assumptions and has determined that it is inappropriate to transfer to consumers collection losses that are controllable by the DISCOs (distribution companies),” he announced.

http://www.premiumtimesng.com/news/top-news/178622-breaking-nigerian-government-cuts-electricity-tariff-by-50.

Details would be nice...

They makes things remarkable {www.basicpulse..com}

Se na private partnership power sector be?

All because of march 28! E don late! ;DAll because of march 28! E don late!

Bookmarked dis space till it get to FP....















.....Might be on sale after that!

How does this make us have stable electricity

Desperate attempt by the current administration to please Nigerians.....apart from reducing electricity tariffs, how about constant power?

campaign strategy...Let there be light

How would that stop us from sending him back to Otuoke??

Awesome!! GEJ is;

*Getting rid of Boko Haram,
*Reducing salaries,
*Reducing electricity tarrifs etc

Basically clearing up the mess he caused in PREPARATION FOR THE INAUGURATION OF BUHARI!!

Good stuff!! Go on boy!!

SAI BUHARI!!!!!

Everybody shouting CHANGE!!!CHANGE!!!CHANGE!!!
Even PDP top shot Marching for change


Doyin Okupe,JEG, Abati,Fayose, FFK (clapping behind the tree)(From L-R)
https://cdn.makeagif.com/media/3-15-2015/7XJFp9.gif


SAI BUHARI!!!

Why is all these happening during elction period. I hope election is holding every year.

If he likes let him make electricity supply totally free...we will still not vote. him

Demdem:
This wont stop the fool currently occupying Aso rock from being Booted out

@ paid poster, do you ever get tired?

focus7:
Why is all these happening during elction period. I hope election is holding every year.

Hahahahahahhahahaah

IVORY2009:
@ paid poster, do you ever get tired?

Stale!

What a wonderful President. Consumers complained, he worked on their feedback and acted appropriately. This is the first time we are experiencing this kind of government. Sai GEJ

Doing the right thing at the wrong time. Too late!

I have already decided!

Sai Baba!

Clerverly:
Stale!

is this your other user name @ Paid poster?

Demdem:
This wont stop the fool currently occupying Aso rock from being Booted out

Fool?
You need help.

barcanista:
Typin

Typing nonsense as usual!

Loooooooooool!
If Mr Desperado like make he give us free electricity, #NeverAgain are we going to be deceived by him.
Our mind is made up.
#WehaveDecided.

This last minute tactics will not work. Even if its free, if its not regular...nothing for you.

LMAyedun:
Fool?
You need help.

No! It is your useless father jonathan that needs all the help!

As Failure keep slapping Jonathan down to Otueke, you will be amazed at his desperation and panic move.

Change is here to stay. Sai Buhari, it is Unstoppable.

Good the initial decision is reversed as it will almost paralyse active industries. Its like PDP/TAN deliberately left out the power sector/electricity from their jingles!

IVORY2009:
is this your other user name @ Paid poster?

You are becoming an irritant here! Grow up kid!!

Clerverly:
No! It is your useless father jonathan that needs all the help!

Who is talking with this one
Park well jor!

wellmax:
This last minute tactics will not work. Even if its free, if its not regular...nothing for you.

Unfortunately for you, the good people of Nigeria appreciate the wonderful deeds of Jonathan especially by listening and acting on their complaints with respect to the electricity tariff. We are also happy and celebrate the victory of GEJ over BH. We are resolved to renew GEJ's tenancy in Aso Rock.

Clerverly:
You are becoming an irritant here! Grow up kid!!

how much are you being paid to post?? Here on nairaland.com

Failed attempt on all fronts.
How can d govt arbitrarily fix prices for private owned companies?
What this despicable govt should have done is to increase power generation and if it wants to market regulate energy prices,sell to d distribution companies at rates lower than what any private sector power generating firm wud.
-If Obasanjo had regulated telecom prices ab initio, when Nigeria literary had none,we wudnt be at this good,but still improving stage we are in.
-They also mischievously fixed implementation date for end of d month,why not start of this mth if this was a sincere attempt to help anyone?
-What happened to the obnoxious fixed charge. How can people pay a fixed charge whether they receive power or not?
The GEJ administration should by now have known that its a failed govt on all fronts and Nigerians are sick of it and want buhari. Its as clear as daylight and we can't all wait for march 28 to come to send him packing!
Good riddance to nauseating rubbish!!!