There are strong indications that electricity distribution companies (DisCos) across the country are poised to increase tariffs starting January 1, as confirmed by an official source from one of the DisCos who disclosed the development anonymously. The revelation followed a virtual emergency meeting where plans for the tariff hike were reportedly finalized.
The source emphasized that all preparations have been completed for the new tariff to be implemented at the beginning of 2024. The onus now lies on individual electricity distribution companies to inform their customers about these impending changes.
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The National Electricity Regulatory Commission (NERC) has reportedly summoned distribution companies for a meeting to discuss this development. However, concerns were voiced regarding the short notice and the challenge of communicating the increase to customers.
Expressing apprehension, the source acknowledged that while it is mandatory for DisCos to assess tariffs every six months, the sudden surge could lead to dissatisfaction among customers. When questioned about the extent of the increase, the source admitted uncertainty, stating that the lack of clarity has placed them in a difficult situation.
Another source from the Transmission Company of Nigeria (TCN) indicated that only the NERC possesses information on the magnitude of the impending tariff increase, highlighting the uncertainty surrounding the forthcoming adjustments.
