Tuesday, February 18, 2020

Tag "NERC"

    Customers to pay more as Ikeja DisCo increases tariff by 50% from April

Customers to pay more as Ikeja DisCo increases tariff by 50% from April

Ikeja Electric (IE) says its electricity tariff will increase by 50 percent from April 1. This is contained in a memo on the company's performance improvement plan and application for extraordinary tariff review of MYTO submitted to the Nigerian Electricity Regulatory Commission (NERC). In January, the regulator announced a review of the multi-year tariff order (MYTO) 2015 and the minimum remittance order [...]

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    NERC: Power sector recorded N1.7trn tariff shortfall in four years

NERC: Power sector recorded N1.7trn tariff shortfall in four years

The Nigerian Electricity Regulatory Commission (NERC) says the power sector recorded ₦1.72 trillion tariff-related revenue shortfall from 2015 to 2019. The commission said this in a newly released consultation paper on the proposed extra-ordinary tariff review of the MYTO-2015 tariff order for the Nigerian Electricity Supply Industry (NESI). NERC said the proposed tariff review in the sector is to ensure that electricity [...]

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    How power sector ‘lost N1.7bn’ on Monday

How power sector ‘lost N1.7bn’ on Monday

The power sector, on Monday, lost N1.707 billion as a result of insufficient gas supply, distribution and transmission infrastructure. This was disclosed in the daily energy report the advisory power team in the office of the vice-president released on Tuesday. The report said the dominant constraint on Monday was unavailability of gas. The electricity generation companies (GenCos), comprising gas-fired and hydro stations, [...]

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    NERC asks customers to report DisCos forcing them to buy transformers, cables

NERC asks customers to report DisCos forcing them to buy transformers, cables

The Nigerian Electricity Regulatory Commission (NERC) has asked customers to report any distribution company (DisCo) that forces them to buy electricity equipment. In a statement on Friday, Usman Abba-Arabi, NERC'S general manager for public affairs, accused the DisCos of forcing customers to pay for the equipment as a condition for getting electricity supply. The NERC spokesman said if the customers are [...]

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    NERC chairman: I have a dream that Nigerians will enjoy stable electricity one day

NERC chairman: I have a dream that Nigerians will enjoy stable electricity one day

James Momoh, chairman of the Nigerian Electricity Regulatory Commission (NERC), says he has a dream that Nigerians will enjoy uninterrupted electricity supply one day. This is coming less than five days after the national grid collapsed twice within two hours, causing blackout across the country. The Transmission Company of Nigeria (TCN) had said the frequent collapses of the grid cannot be totally avoided in [...]

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    Enugu DisCo: From February, we won’t accept cash for bills above N3,000

Enugu DisCo: From February, we won’t accept cash for bills above N3,000

The Enugu Electricity Distribution Company (EEDC) says from February 1, 2020, it will not accept cash payment for electricity bills above N3,000.  In a statement on Wednesday, Emeka Ezeh, EEDC's head of communication, said the company is moving to the cashless policy in its bill collection. The Nigerian Electricity Regulatory Commission (NERC) had ordered electricity distribution companies (DisCos) to migrate their customers [...]

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    NERC: 50% of Nigerians now have meters

NERC: 50% of Nigerians now have meters

Sharfuddeen Mahmoud, general manager, Nigerian Electricity Regulatory Commission (NERC), says 50 percent of Nigerians now have meters. Speaking before the house of representatives committee on power on Tuesday, Mahmoud said he could not tell the exact figure of meters installed by each of the electricity distribution companies (DisCo) under the meter asset providers (MAPs) scheme. The commission had ordered the DisCos to [...]

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    Reps panel asks NERC to suspend electricity tariff increase

Reps panel asks NERC to suspend electricity tariff increase

The house of representatives committee on power has asked the National Electricity Regulatory Commission (NERC) to suspend the planned increase in electricity tariff. NERC had directed the electricity distribution companies (DisCos) to enforce an upward review of the tariff starting from April 1. But at its meeting in Abuja on Tuesday, Aliyu Magaji, the committee chairman, asked NERC to issue a directive [...]

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    Increase of electricity tariff unacceptable, says reps’ minority leader

Increase of electricity tariff unacceptable, says reps’ minority leader

Ndudi Elumelu, minority leader of the house of representatives, says the proposed increase of electricity tariff in the country is unacceptable. The Nigerian Electricity Regulatory Commission (NERC) had announced a review of the multi-year tariff order (MYTO) 2015 and the minimum remittance order (MRO). Following the directive from NERC, electricity distribution companies (DisCos) said from April 11, they  will adjust their [...]

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    PDP describes electricity tariff increase as toxic New Year’s gift to Nigerians

PDP describes electricity tariff increase as toxic New Year’s gift to Nigerians

The Peoples Democratic Party (PDP) says the proposed increase in electricity tariff by the federal government will worsen the suffering of Nigerians. The Nigerian Electricity Regulatory Commission (NERC) announced a review of the multi-year tariff order (MYTO) 2015 and the minimum remittance order (MRO). From April, 11 electricity distribution companies (DisCos) will adjust their tariffs upwards. In a statement on Sunday, Kola [...]

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    Nigerians to pay more for power as NERC directs DisCos to increase tariff

Nigerians to pay more for power as NERC directs DisCos to increase tariff

Nigerians will now pay more for electricity as the Nigerian Electricity Regulatory Commission (NERC) has directed the 11 electricity distribution companies (DisCos) to increase their tariff from January 1. James Momoh, NERC chairman, and Dafe Akpeneye, its secretary, gave the directive in a memo sent to the DisCos. The commission had published the new tariffs for the different DisCos and categories of [...]

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    ALERT: From March 31, DisCos won’t accept cash payment for electricity bills

ALERT: From March 31, DisCos won’t accept cash payment for electricity bills

The federal government has ordered electricity distribution companies (DisCos) to adopt electronic platforms for the payment of energy bills across the country. The Nigerian Electricity Regulatory Commission (NERC) said the move is to reduce the aggregate technical, commercial and collection losses the DisCos are battling with. The commission asked the DisCos to leverage on available banking channels approved by the Central Bank [...]

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    NERC: 3 persons electrocuted every week between April and June

NERC: 3 persons electrocuted every week between April and June

The Nigerian Electricity Regulatory Commission (NERC) says at least three persons were electrocuted every week between April and June. NERC said this in its latest 2019 report. The commission said the health and safety practices of operators in the industry were on the decline. The regulator also said the safety of electricity providers and users in Nigeria remains one of its key priorities. "The [...]

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    After Magodo, Ikeja GRA inks deal with Ikeja DisCo for 24-hour electricity supply

After Magodo, Ikeja GRA inks deal with Ikeja DisCo for 24-hour electricity supply

Ikeja Electric (IE) has signed a bilateral agreement with residents of  Ikeja government reserved area (GRA) to supply them 24-hour electricity. The electricity distribution company announced this on its Twitter page on Saturday. "Ikeja Electric signs bilateral Power Agreement with Ikeja GRA. ...Residents to enjoy up to 24 hours of supply daily," the company said. https://twitter.com/IkejaElectric/status/1182593399892992000?s=19 Some of the streets to enjoy this benefit include [...]

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    NERC asks DisCos to disconnect defaulting MDAs

NERC asks DisCos to disconnect defaulting MDAs

The Nigerian Electricity Regulatory Commission (NERC) has asked electricity distribution companies (DisCos) to disconnect government ministries, departments and agencies (MDAs) who are defaulting in the payment of energy bills. In a notice signed by Dafe Akpeneye, commissioner for legal, licensing and compliance, on Tuesday, the regulator said the responsibility of revenue collection from all customers including MDAs of states and federal [...]

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    NERC threatens to revoke licences of AEDC, Ikeja DisCo

NERC threatens to revoke licences of AEDC, Ikeja DisCo

The Nigerian Electricity Regulatory Commission (NERC) has threatened to withdraw the licences of eight electricity distribution companies (DisCos) over an alleged breach of market rules. In a notice signed by Dafe Akpeneye, commissioner for legal, licensing and compliance, on Tuesday, the regulator accused the DisCos of breaching the provisions of the electric power sector reform act (EPSRA). The affected companies were listed [...]

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Exchange Rates

February 04, 2019USDGBPEUR
INTERBANK306397354
LAGOS355444389
KANO354445370
PH355447412
ABUJA356454413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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