Economy News Extra Latest News Power/Electricity

Amid Consumers’ Complaints, FG Reviews Electricity Tariffs Upward

Despite complaints by customers about the current tariff regime, the Federal Government has increased tariffs by about 50 percent for electricity consumers nationwide. The Nigerian Electricity Regulatory Commission (NERC) in its latest order copied all the distribution companies (Discos), stated that the upward hike in tariffs was necessitated by rising inflation rate, foreign exchange, generation […]

Economy News Extra Latest News Power/Electricity

GenCos Sold N294.16bn Electricity In 5 Months

Electricity generation companies (GenCos) in the country sold electricity worth N294.16bn between January and May this year to the Nigeria Bulk Electricity Trading Plc (NBET), the bulk purchaser of generated power, for subsequent sale to distribution companies (DisCos). By the power sector regulatory regime, NBET, which is owned by the government, purchases electricity in bulk […]

Economy News Extra Latest News Power/Electricity Revenue

No Tariff Hike For Below 12 Hours Daily Electricity Customers – NERC

Apparently concerned by the growing complaints against the recently introduced electricity tariff plan by millions of electricity consumers, the Nigerian Electricity Regulatory Commission (NERC) on Friday maintained that electricity Distribution Companies (DisCos) must not increase tariffs of customers enjoying less than 12 hours power supply daily. The NERC Commissioner, Legal Licensing and Compliance, Mr. Dafe […]

Banking Power/Electricity Revenue

Banks to takeover electricity bills’ collections

The Central Bank of Nigeria (CBN) has directed deposit money banks (DMBs) providing bank guarantees to Nigeria Bulk Electricity Trading (NBET) Plc and the Transmission Company of Nigeria (TCN) on behalf of the electricity distribution companies (Discos) to take over electricity bill collections from customers. Similarly, the apex bank also charged the DMBs to ensure […]

Economy News Extra Latest News Power/Electricity

Discos’ Prepaid Meter Supplies Hit 1.67Mn Nationwide – NBS

The National Bureau of Statistics (NBS) has reported that the 11 electricity Distribution Companies (DisCos) in the country so far supplied a total of  1,669,675 units of prepaid meters to consumers nationwide as at the end of December 2018.. According to the official statistics producing and reporting agency in its latest ‘Power Sector Report: Energy […]