Remember that on June 1, 2023, Nigerians were supposed to see a change in the units of electricity purchase after the power distribution company had announced a price review.
The following day, the Discos faced extensive criticism and subsequently reversed their decision, citing the lack of approval from the Nigerian Electricity Regulatory Commission for the tariff increase. This sudden change of direction created a sense of unease among electricity consumers. Many prepaid users hurriedly purchased additional electricity units for their meters, anticipating a potential tariff hike.
On Thursday, the Federal Government has announced that 11 power drisbution companies in the country have applied for the review of their various electricity tariffs in order to incorporate the changes in the macroeconomic parameters across the country.
It disclosed this through a notice published by the Nigeria Electricity Regulatory Commission. It added that the Discos also stated their reasons for the rate review were premised on factors affecting the quality of service, operations and sustainability of the companies.
In the notice from the regulator, it said, “Pursuant to Section 116 (1) and 2(a&b) of the Electricity Act 2023 and other extant rules, the 11 successor electricity distribution companies have filed an application for rate review with the Nigerian Electricity Regulatory Commission.
