NERC approves N26.4b subsidy for AEDC customers, leaves tariff unchanged

The Nigerian Electricity Regulatory Commission (NERC) on Friday, September 13, released its September 2024 Supplementary Multi-Year Tariff Order (MYTO), leaving the rates unchanged. Band A Tariff remained unchanged at N209/Kw/h while Band B to -E also remained the same rate as it has been since December 2022.

 It, however, approved the payment of N26.4 billion subsidy for Abuja Electricity Distribution Company (AEDC), Plc customers.

This was contained in its document titled: “Order/NERC/2024/114 in the Supplementary Multi-Year Tariff Order (MY TO) September 2024,” it issued yesterday.NERC said: “In line with the policy direction of the federal government on electricity subsidy, the allowed tariffs for Bands B-E customer categories shall remain frozen at the rates payable since December 2022 subject to further policy direction by the government.“With this policy, the estimated subsidy benefit customers under Abuja Electricity Distribution Company (AEDC) franchise in 2024 is approximately N26.4billion monthly.”NERC fined AEDC N1.69 billion owing to non-compliance with the capping of estimated bills and subsequent petition hearings and review of data.

“Pursuant to the commission’s Order NERC/2024/114 on non-compliance with the capping of estimated bills and subsequent petition hearings and review of data further provided by AEDC, the Commission has approved the deduction of N1.69billion from the total OPEX of AEDC effective from September 2024, being the 10% of the over billed amount by AEDC for the period covering January to September 203.”

The fine is an indication that AEDC over-billed its customers N16.9 billion between January and September 2023.

The tariff took effect from 1st September 2024.

https://thenationonlineng.net/nerc-approves-n26-4b-subsidy-for-aedc-customers-leaves-tariff-unchanged/