Here is the new electricity tariff regime that went into effect on February 1, 2016.
According to the new tariff regime, electricity consumers under the R2 Class (residential) will payN24.30 per kilowatt in Abuja; Benin-N24.08; Enugu-N27.13; Ibadan -N23.09; Jos- N26.93; Kaduna – N27.36 and N28.05 (single phase and three phases); Kano – N20.26 and N26.41; Ikeja – N21.30 and N21.80; Port Harcourt –N24.91; Eko- N24.00 and 25.79; Yola –N23.25 and N24.75 per kilowatt accordingly.
According to the Acting Head at NERC, Dr. Tony Akah, “The MYTO 2015, as sign takes effect on February 1, 2016. The commission has utmost respect for the National Assembly, Judiciary and other bodies and is working towards addressing all concerns. This new tariff which is based on realistic market price will improve the quality and quantity of electricity delivered to customers and provide a fair return on investment for the operators."
The tariff covers a 10-year period with expectations that the prices will start reducing from 2018 to 2024, when the sector must have advanced to an operational system that guarantees regular supply.
Akah said there were inbuilt consumer protection mechanisms and incentives for improved service delivery by the Discos and fair return on investment in the new tariff.
He assured that the commission in implementing the tariff would effectively monitor and enforce all service delivery agreements in the new order.
The new tariff order, aside from eliminating fixed charge has a mechanism to ensure that electricity distribution companies fully meter their consumers and eliminate “crazy” billing within one year.
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