The Head, Media Relations, Nigerian Electricity Regulatory Commission (NERC), Mrs Mariam Abubakar,on Tuesday said fixed charges on electricity tariffs since 2012 was being reviewed annually.
Abubakar told newsmen in Lagos that the Multi Year Tariff Order 2 (MYTO2), which was inaugurated in 2012 – formalised the annual reviews till 2017.
She said that MYTO2 legalised the review of fixed charges on electricity tariff for the next five years from 2012.
“The annual tariff changes provide for yearly minor reviews to incorporate any changes in crucial indices such as gas price, inflation and exchange rates.
“Not all such minor reviews result in any change in the tariff though.
“For example, the minor review we conducted at the end of 2012 resulted in no change to the existing tariff. “
?She said MYTO 1 terminated on the midnight of May 31, 2012.
Abubakar said that MYTO 2 was for the period of June 1, 2012 to May 31, 2017.
“MYTO 2 is intended to be cost-reflective and provide financial motivations for instantly needed incremental investments in the industry.
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