Home Business News in Brief: NERC Issues Order Suspending Tariff Hike For 14 Days

News in Brief: NERC Issues Order Suspending Tariff Hike For 14 Days

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The Nigerian Electricity Regulatory Commission (NERC) on Tuesday night issued an order suspending the September 1, 2020 hike in electricity tariffs for 14 days.

Labour unions and the Federal Government had reached a truce on Sunday night to reverse the hike in electricity tariffs for 14 days, a development that prompted the halt of a nationwide strike by labour.

Power distributors had on Monday and earlier on Tuesday told our correspondent that no order concerning the matter had been received from the regulator. Sources at the commission had confirmed earlier in the day that an order might come from the regulator on Tuesday night.

The regulator issued Order No. NERC/209/2020 around 10.30 pm on Tuesday, describing the regulatory instrument as “NERC Order on the suspension of the Multi-Year Tariff Order 2020 for the electricity distribution licensees.”

The commission said, “This order shall take effect from 28th September 2020 and shall cease to have an effect on October 11, 2020.” The commission had approved a new tariff for power distributors that took effect from September 1, 2020, but this was resisted by labour unions and most power users.

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