The Nigeria Electricity Regulatory Commission, NERC, has approved new Extraordinary Tariff Review applications, Performance Improvement Plan, PIP, and Capital Expenditure, CAPEX, for electricity Distribution Companies, DIcOs effective from July 1st, 2021 till 30th June 2026.
This was contrary to the earlier position of the Minister of Power, Engr. Sale Mamman, who at the weekend allayed consumers’ fear there will be no significant tariff increase.
However the NERC orders issued Sunday to the different DISCOs, were about applications for extraordinary tariff review, Performance Improvement Plans, and capital expenditure for the next five years, beginning from 1st July this year.
For Ikeja Electricity Distribution Plc, IKEDC, the NERC said: “This regulatory instrument may be cited as NERC Order on PIP and Extraordinary Tariff Review Application for Ikeja Electricity Distribution Plc (IKEDC)”.
The NERC document said, IKEDC just like the other DISCOs, applied for the Commission in November 2019 for a review of the provisions for CAPEX in its Multi-Year Tariff Order, MYTO, tariffs to support the implementation of its PIP over the next five years.