The Nigerian Electricity Regulatory
Commission (NERC) on Tuesday
approved a review of the Multi Year Tariff
Order (MYTO) 2 regime with an
implication for takeoff date for a
disciplined electricity market by January 1, 2015.
With the commencement of MYTO 2.1,
the commission will now progressively
hold electricity distribution, transmission
and generation companies as well as
other market operators to the terms and conditions of their licences.
The commission’s chairman Dr Sam
Amadi, said, “It is expected that the
take-off of MYTO 2.1 will bring about
improved service delivery as distribution
companies are now expected to implement their investment plans for
metering and strengthen their networks
in line with their bid documents.”
He explained that the adjustment in
methodology is not expected to bring
about any increase in tariff to the residential customers on R1 and R2,
who formed majority of electricity
consumers, at least not in the next six
months.
Explaining the rationale behind the
adjustment, Amadi said that the commission had shielded ordinary
Nigerians from possibility of rates shock
that could have accompanied the review
while pressing the operators for
improved service delivery and to abide
by the agreement they signed into while acquiring the electricity entities.
He explained further that the review was
imperative on account of possible the
take off date of January 1, 2015, for the
transition electricity market and the
memorandum of understanding between the Central Bank of Nigeria
(CBN) and the Nigerian Electricity Supply
Industry (NESI).
According to him, all these measures
were being put in place to ensure the
new owners can fund their operations and ensure improved electricity supply
to the economy as well as expand the
amount of electricity available for
economic development.
With this development the existing
regime of Interim Rules, whereby the Commission govern the market without
the full rigours of the MYTO, as situation
arises will cease, while activities of the
market will now be governed by strict
contractual obligationshttp://leadership.ng/news/397585/nerc-new-electricity-tariff-takes-effect-january-1

Noted!!

If they increase it as speculated, then why would i vote jona?

New year gift.

next na to increase fuel pump price!
watching GEJ and voting GMB come 14/2/2015....

Let them increase it today we still will not pay for service not rendered. Even on Christmas day no light in UNIPORT.

Jan 1, 2012 new year gift was increase in price of petroleum product. Jan 1, 2015 new year gift is increase in price of unavailable power.

vote Jonathan, vote increase in prices of everything.

Typical short-sighted way of swindling the masses, by charging them for electricity that they hardly ever receive. What is the Consumer Protection Council (CPC) and the government agencies that should protect the citizens from exploitation doing about this?

Increase in tarrif my left foot!

Nigerians should unite and vote out Jonathan. If not there very terrible plans in the pipeline that will increase hardship (Electricity tariff, increase in fuel price, falling naira value, depreciated foreign reserve, massive corruption in government, hording of essential commodities, high inflation, etc).

It will take a quality leadership to make Nigeria great again. #Change

Gej's impoverishment of the masses continues as he enriches his cronies. No wonder he said recently that he has created more billionaires.

[quote author=laudate post=29554024][/quote]

U better tell them cos i will sharpen my cutlass front and back to wait for any of these marauders when they will come to cut the light that we have not seen for weeks now.
better tell them, well they know me in their office over here, at least the useless marketer here can testify of my Fury.
I really dont know what thees fools take Nigerian consumers for because nobody talks, you will see people queuing up to pay bills when they have not seen light in their area for weeks. Nigerians are very gullible