By Francis Akinnodi

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Nigerian Electricity Regulatory Commission (NERC), has clarified that the approval for tariff increase for the six electricity distribution companies was effected since December, 2021, saying that it was not a recent hike.

Chairman of NERC, Mr Garba Sanusi, who made the clarification in a release made available to The Hope, emphasised that NERC has not approved a new tariff increase contrary to the impression given by recent media reports.

Sanusi explained that it is part of the functions of the commission to review tariff every six months considering the inflationary and exchange rate fluctuations but a new tariff increase has not taken place.

Recall that in its website on Thursday, the commission published a review of tariff increase for six Distribution Companies (DisCos) with effect from December 2021.

The document issued on December 29, 2021, and signed by NERC chairman, Sanusi Garba and , vice chairman, Musiliu Oseni.

The commission said that some of the indices considered for the tariff increase included gas price, inflation, exchange rate, US inflation rate and available generation capacity.

It added that these indices shall be reviewed every six months to update the tariffs with changes in the indices as applicable in line with the Multi-Year Tariff Order (MYTO).