The Nigerian Electricity Regulatory Commission, NERC which regulates PHCN’s operations announced last week that consumers will now pay N10 per kilowatt an hour. An increment of N1.50 from the previous N8.50 per kilowatt an hour, representing a 17.6 per cent increase.
According to NERC, the increase was aimed at making the power sector more attractive to investors who were of the opinion that the power tariff in Nigeria is the lowest in the world and therefore cannot make the market viable for prospective investors.
Before the increase was announced, NERC had earlier held a meeting with the chief executive officers of electricity distribution companies. They were reminded that the electricity tariff schedule which should have been operative since 2008 will now be implemented.
The power regulatory body expressed the opinion that the new tariff will bring some gains for the PHCN in the areas of power delivery, be it generation or distribution.
There has been argument that the Federal Government should hands off power generation and distribution so that private investors could take over and ensure efficient and steady power supply in the country.
Really! Are you kidding me. This must be some huge joke. You had better provide me with stable power supply before even dreaming of increasing the tariff.