NERC ap­peals elec­tric­ity tar­iff re­ver­sal

Daily Trust - - BUSINESS - By Si­mon Echewo­fun Sun­day

The Nige­rian Elec­tric­ity Reg­u­la­tory Com­mis­sion (NERC) said it filed an ap­peal against the court rul­ing that or­dered the re­ver­sal of the 45 per cent in­crease in elec­tric­ity tar­iff in Fe­bru­ary this year, last Fri­day.

Daily Trust re­ports that the As­so­ci­a­tion of Nige­rian Elec­tric­ity Distrib­u­tors (ANED) was study­ing the judge­ment and would im­me­di­ately write to the Court of Ap­peal on the rul­ing and also file a stay of ex­e­cu­tion on the pre­vail­ing tar­iff.

The Act­ing Chair­man of NERC, Dr. An­thony Akah, who briefed news­men at its head­quar­ters in Abuja said, “The Com­mis­sion re­spects this de­ci­sion of the court but we are dis­sat­is­fied be­cause it rep­re­sents the re­ver­sal of the com­mer­cial foun­da­tion upon which con­tracts for gas, hy­dro, coal and so­lar feed­stock for the pro­duc­tion of elec­tric­ity have been pred­i­cated.”

NERC said the judg­ment was a set­back to the progress made in the elec­tric­ity sec­tor. “There­fore, we chal­lenge this de­ci­sion. We have in­structed our lawyer to ap­peal. Con­se­quently, the com­mis­sion has filed for stay of ex­e­cu­tion and a no­tice of ap­peal of the judge­ment,” Dr. Akah said.

Akah added, “There­fore we ask in­vestors, as well as cus­tomers in the elec­tric­ity mar­ket not to panic as we seek a res­o­lu­tion within the am­bit of the es­tab­lished laws.”

The com­mis­sion said it re­mained com­mit­ted to con­tin­u­ously pro­vide the right reg­u­la­tory frame­work that would pro­mote pri­vate sec­tor in­vest­ment in the elec­tric­ity sup­ply in­dus­try and also pro­tect the in­ter­ests of elec­tric­ity cus­tomers as en­shrined in the Elec­tric Power Sec­tor Re­form Act (EPSRA) 2005.

Newspapers in English

Newspapers from Nigeria

© PressReader. All rights reserved.