SAN FRANCISCO, February 11, (THEWILL) – Anthony Akah, Acting Chief Executive Officer, Nigerian Electricity Regulatory Commission (NERC), has revealed that the recent increase in electricity tariffs in does not affect consumers in the low-income class, otherwise known as the R1 customer class.
Akah, on a courtesy call on Lawrence Anukam and the director general of the National Environmental Standards and Regulations Enforcement Agency (NESREA), further narrated that electricity tariffs for this class of consumers was N4 per kilowatt hour before the February upward review and still remained same after the review.
Akah noted that the Commission should never be seen as siding with either the consumers or the market participants, as it rather works to create a level playing field for all market participants and other stakeholders.
He said the functions include the protection of consumers and that electricity must be rightly priced in order to ensure that providers of electricity were allowed to make reasonable profit from their businesses.
“The Commission promotes competition for market practices based on the realities in the sector and the dynamics of the economy. Power is a product and should be rightly priced,” he said.
The NERC boss told his host that the impact of NERC needed to be felt across the country, hence the need for a sustained collaboration with NESREA for the purpose of achieving energy efficiency and sustainability.
The NESREA DG, in his response, welcomed the strategic visit and informed the delegation that the agency also looks at the impact of generation and distribution and the disposal of waste that may arise from power generating facilities, among other sources.
NERC and NESREA also agreed on forming a task team that would help them facilitate the realisation of their common goal.
Story by David Oputah
