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"Synergy, Commitment Are Key to Global Energy Sustainability, Says Bounour

By Favour Ifeoluwa & Akinola Ajibade  The Chief Executive Officer, Egbin Power Plc, Mr Mohktar Bounour says global transition to cleaner energ and sustainable environment are achievable, as long as there is strong synergy and commitment among stakeholders in the value chain.  He spoke during the maiden edition of  Asharami Square in Lagos. This is an initiative introduced and implemented by the Sahara Group, in order to amplify discourse on energy sustainability through  media advocacy globally. He said: " Having analyzed the percentage of global greenhouse emissions attributed to sectors including electricity/heat production, agriculture/forestry and transportation, we are realised that there is need for synergy  and renewed commitment among stakeholders". According to him, Egbin Power has unwavering commitment to reduce carbon emissions and promotes sustainable energy sources, stressing that the need to depeening engagement and advocacy among stakeholders in
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Tarrifs Adjustment: Nigerians may pay more electricity bills as from July, this year


By Akinola Ajibade

Consumers are likely going to pay more for energy,  as from second quarter of 2022, if the decision of the Nigerian Electricity Regulatory Commission (NERC) to review the tarrifs again go according to plans. 

The regulatory body had few months ago, carried out an upward review of the electricity tarrifs, in order to reflect its cost of production and consumption in the country. 

In a memo marked: “Notice Of Compliance in Respect of the Biannual Review of the Revenue Requirements of Licensees and made available to News Mirror, the power sector regulator said that the adjustment will cover among others, changes in relevant macroeconomic indices..

The statement reads: “Pursuant to the provisions of the Electric Power Sector Reform Act (EPSRA), NERC adopted the Multi-Year Tariff Order (MYTO) methodology in setting out the basis and procedures for determination of licensees’ revenue requirements and review of electricity tariffs in Nigeria. The body also explained that the methodology provides for minor reviews (every six months), major reviews (every five years), and extraordinary reviews in instances where industry parameters have changed significantly from those used in the operating tariffs.

“This it said is to such an extent that a review is required urgently to maintain the viability of the electricity industry.”

Continuing further, NERC in a separate orders  issued to the 11 Discos, noted that the “minor” hike in tariffs was to compensate for market fundamentals outside the control of the electricity distributors.

Its Chairman, Mr Sanusi Garba, in his reactions to the issue, explained that there were no new hikes, apart from the review approved in December, maintaining that the bi-annual review was to take care of inflation, foreign exchange, and generation volume among others and insisting that it is part of MYTO. 

Recall that NERC recently released documents approving tarrif increases for Distribution Companies ( DisCos) about four months after the implementation of the new rates commenced.

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