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Tag: NERC

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NERC imposes N1.69bn fine on AEDC for overbilling customers

The Nigerian Electricity Regulatory Commission has imposed a fine of N1.69 billion on the Abuja Electricity Distribution Company for overbilling its customers from January to September 2023. This penalty results from AEDC’s non-compliance with NERC’s directive to cap estimated billing, according to Nairametrics. The fine, detailed in ‘Order NERC/2024/114,’ was issued on August 30, 2024, […]

News

Electricity DisCos rake in N150bn revenue in June – NERC

Electricity distribution companies in June 2024 collected N150.86 billion in revenues, achieving an 85.44% collection efficiency rate. This was disclosed in the fact sheet on electricity distribution companies’ performance in the month published by the Nigeria Electricity Regulatory Commission, according to Nairametrics. Ikeja led with the highest revenue at N30.06 billion and a billing efficiency […]

Electricity News

Monthly electricity subsidy surge 151% to N211bn – Report 

The electricity subsidy obligation of the Federal Government rose from N252.76bn to N633.30bn in the first quarter of 2024, according to Nigerian Electricity Regulatory Commission report. The NERC said the electricity subsidy increased significantly to N211.10bn per month in the first three months of 2024, from N84.25bn in the last quarter of 2023. According to […]

Electricity News

Nigerians don’t have ‘fundamental right to electricity’ – NERC

The Nigeria Energy Regulatory Commission has stated that energy usage is not a fundamental right that any Nigerian consumer may contest. The NERC’s legal team is opposing a suit that asked the Federal High Court Abuja to restrain it and the Abuja Electricity Distribution Company from implementing the multi-year tariff order 2024, which classified electricity […]

Power crisis worsens as National grid collapses again
News

Lagos court bars IKEDC, NERC from implementing tariff hike

The Federal High Court in Lagos has barred Ikeja Electric Plc and the Nigerian Electricity Regulatory Commission from applying, administering, and/or implementing the putative pricing outlined in the April 2024 Supplementary Order on pricing Increase on “Bank A” Feeders. The court ruled on Tuesday that the tariff included those released by Ikeja Electric on April […]

NERC approves N21bn for free meters to Nigerians
News

NERC approves N21bn for free meters to Nigerians

The Nigerian Electricity Regulatory Commission has sanctioned a substantial allocation of N21 billion for the eleven electricity Distribution Companies to provide meters at no cost to end-use customers. This announcement was made on Friday, June 21, and detailed in ORDER NO: NERC/2024/072, pertaining to the implementation of “Tranche A” of the Presidential Metering Initiative under […]

Electricity

Halt electricity tariff hike enforcement, Reps tell NERC

The House of Representatives has asked the Nigerian Electricity Regulatory Commission to refrain from introducing a new increment tariff in respect of Band A customers. This was disclosed during a plenary session on Tuesday by the lower chamber. According to them, the resolution followed the adoption of a motion of urgent public importance by Kama […]

Electricity

NERC hands over electricity regulation to Ondo govt

The Nigerian Electricity Regulatory Commission has transferred regulatory oversight of the electricity market in Ondo state to the state’s electricity regulatory bureau. This was disclosed by the NERC in a public notice noting that its actions were in line with the provisions of the Electricity Act of 2023. The commission pointed out that the commission […]

Electricity

Enugu takes over electricity regulation from NERC

NERC transfers regulatory oversight to Enugu State Electricity Regulatory Commission The National Electricity Regulatory Commission has issued an order to transfer the regulatory oversight of the electricity market in Enugu state from the commission to the Enugu State Electricity Regulatory Commission. This was disclosed in a statement by NERC in a post on its official […]

NERC makes N5.63bn in 2023 Q3
News

FG needs N3.2trn to reverse electricity tariff hike – NERC

The Federal Government of Nigeria will need to come up with the sum of N3.2trn in 2024 to reverse the recent hike in electricity tariff. This disclosure was made by the Chairman of the Nigeria Electricity Regulatory Commission, Sanusi Garba in Abuja at a stakeholders meeting convened by the House of Representatives Committee on Power, […]

News

DisCos struggle to satisfy Band A customers, other Bands neglected

Nigeria’s Electricity Regulatory Commission recently increased electricity tariff by 231 per cent for category A consumers. The new Multi-Year Tariff Order raised electricity rates for about two million customers from N68 per kilowatt to N255 per kilowatt. The NERC has ordered the 11 distribution companies to publish their list of customers in Band A, which […]

Electricity featured

Electricity supply fails despite 231% tariff increase for band A consumers

In just less than a week after Nigeria’s Electricity Regulatory Commission increased the electricity tariff by 231 per cent for category A consumers, it appears that the electricity supply capacity is grossly inadequate to meet the 20 hours per day minimum benchmark for the new tariff while also taking customers in other categories into consideration. […]