{"id":73445,"date":"2023-06-30T10:02:20","date_gmt":"2023-06-30T09:02:20","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=73445"},"modified":"2023-06-30T10:02:20","modified_gmt":"2023-06-30T09:02:20","slug":"energy-consumers-in-panic-buying-over-possible-tariff-hike","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/energy-consumers-in-panic-buying-over-possible-tariff-hike\/","title":{"rendered":"Energy Consumers In Panic Buying Over Possible Tariff Hike"},"content":{"rendered":"

Despite the Federal Government’s response to claims of a purported electricity tariff increment on July 1, Nigerians have continued the panic buying of electric units.<\/p>\n

Responding to an enquiry on Monday concerning electricity tariff increments by Electricity Distribution Companies, DisCos, the Nigerian Electricity Regulatory Commission (NERC) said there is yet to be an approval.<\/p>\n

The Assistant General Manager, Public Affairs of NERC, Mr. Michael Faloseyi, disclosed that the commission is yet to approve electricity tariff increments.<\/p>\n

\u201cI can confirm that the Commission has not approved any tariff increase,\u201d Faloseyi said.<\/p>\n

The agency’s response was necessary against speculations of a 40 per cent electricity tariff increase which some Nigerians have been responding to by panic unit purchase.<\/p>\n

Electricity consumers have experienced sharp increment in the last three years during which several upward electricity tariff adjustments have been implemented under the NERC\u2019s Multi-Year Tariff Order (MYTO).<\/p>\n

The increments are however argued to be in line with current economic realities relating to the exchange rate and inflation.<\/p>\n

Meanwhile, PoS agents in the Lagos area have been experiencing surge in customers’ energy purchase.<\/p>

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Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

Adesanya Ayodele is an energy consumer who told National Wire that he had to purchase more units to prevent what happened on May 29 when pump price of petrol caught him unawares.<\/p>\n

“If I had known I would have bought more fuel before the hike to at least serve me for a week,” he said, continuing that, “I’m a transporter and fuel is our own energy. If I had known I would have bought 25 litres down before the thing jumped to N500 overnight and I don’t want that to repeat itself on power.”<\/p>\n

Musili Hassan is a housewife in Badagry, Lagos who also runs her petty business around the house. She said, she would need to purchase units to last two months.<\/p>\n

“I’m a housewife though I have my business in my compound, I don’t go out often. I have gone to buy units to last me for two months in case they increase it like they did to fuel. More so, children will be home for the long vacation, let them have light to watch television and do their homework.<\/p>\n

“We will still finish the units to start buying the expensive ones as they have decided to punish the masses more, but at least we will enjoy the old units till children finish their holidays,” she said.<\/p>\n

It would be recalled that energy was N13 per unit in 2014 and at the inception of Buhari administration in 2015, the price was reviewed upwards while Nigerians groan under high cost of goods and services.<\/p>\n

It may interest consumers that Nigeria now generates
\nmost of her power through thermal and hydro, with installed capacity of about 12,522 MW according to www.trade.gov.<\/p>\n","protected":false},"excerpt":{"rendered":"

Despite the Federal Government’s response to claims of a purported electricity tariff increment on July 1, Nigerians have continued the panic buying of electric units. Responding to an enquiry on Monday concerning electricity tariff increments by Electricity Distribution Companies, DisCos, the Nigerian Electricity Regulatory Commission (NERC) said there is yet to be an approval. The …<\/p>\n","protected":false},"author":11,"featured_media":73446,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,1593,17],"tags":[10396,725],"coauthors":[2393],"class_list":["post-73445","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-metro","category-news","tag-energy-tariff","tag-nerc"],"yoast_head":"\nEnergy Consumers In Panic Buying Over Possible Tariff Hike - National Wire<\/title>\n<meta name=\"description\" content=\"Despite the Federal Government's response to claims of a purported electricity tariff increment on July 1, Nigerians have continued\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/energy-consumers-in-panic-buying-over-possible-tariff-hike\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Energy Consumers In Panic Buying Over Possible Tariff Hike - 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