The Nigerian Electricity Regulatory Commission (NERC) on Wednesday said that its order to suspend the recent tariff increase was done in the public interest.
Mr Dafe Akpeneye, Commissioner, Legal Licensing and Compliance, NERC, disclosed this at the virtual 2020 Businessday Energy Series – Fuel of the Future (Gas) Summit.
The summit had the theme: “Nigeria at 60: Harnessing Nigeria’s Energy Potential for the Future”.
The News Agency of Nigeria (NAN) reports that NERC issued an order to electricity Distribution Companies (DisCos) to suspend the implementation of the Service Reflective Tariff (SRT), effective Sept. 28 to Oct. 11.
Akpeneye said the suspension would enable further consultations and finalisation of negotiations between the Federal Government and labour unions who kicked against the tariff hike.
He said: “The gesture was done in good faith by the government and NERC as a regulator is bound by Section 33 of the Electric Power Sector Reform Act 2005, to…
Source: Vanguard Newspaper