New Electricity Tariff May Be Out Next Week
Presidency Wades Into Geometric, Enugu Disco Dispute
THE much talked about new electricity tariff will be ready and signed off in the new week, the Nigerian Electricity Regulatory Commission (NERC) has announced.
Minister of Power, Works and Housing, Babatunde Fashola had in the week announced that NERC and the 11 Distribution Companies (DISCOS) had been directed to meet and come up with what he described as a “fair market tariff.”
Though details of the new tariff structure are not yet finalised, NERC said at a workshop in Abuja yesterday that a final meeting would be held in next week to conclude and sign it off.
Chairman of NERC, Dr. Sam Amadi, highlighted the outcome of the meeting with DISCOS, saying: “We have gone to the DISCOS, gotten feedback, gone to government and gotten feedback. We have not finalised. In our view, we have basically done the crunching of numbers. By next week, we should sign off on the new tariff.”
Meanwhile, the Presidency has intervened in the lingering dispute between Geometric Power and Enugu Electricity Distribution Company over the 141MW Aba Power Plant.
In response to a question on the state of the regulator’s intervention in the issue, Amadi said that NERC has developed a settlement plan, which the Presidency was reviewing for adoption.
He said the Vice President has had a meeting with the parties preparatory to eventual resolutions.
Amadi said: “ I have been mandated to draw out a settlement plan. We have done that and completed it. It is now at the VP’s office. NERC’s framework is to be adopted and reviewed as out of court.