Business
Fixed Charges On Electricity Tariffs For Review – NERC
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.
“These investments, in turn, are expected to lead to a significant and unceasing improvement in the quantity of energy and quality of service enjoyed by consumers,” she said.
The NERC scribe said that investors in the nation’s power sector would not feel comfortable if uncertainty and inconsistency characterised electricity pricing in the country.
” We are also working to ensure that the Electricity Distribution Companies (DISCOs) meet their obligations to their customers and keep their customers informed of any tariff price changes.
“It is not the primary responsibility of the regulator to give electricity consumers information on review of tariffs, however, we may make any clarifications where necessary, ” she said.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
Business
NIS Ends Decentralised Passport Production After 62 Years
Business
FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year
-
Sports4 days ago
CAFCL : Rivers United Arrives DR Congo
-
Sports4 days ago
FIFA rankings: S’Eagles drop Position, remain sixth in Africa
-
Sports4 days ago
NPFL club name Iorfa new GM
-
Sports4 days ago
NNL abolishes playoffs for NPFL promotion
-
Sports4 days ago
NSF: Early preparations begin for 2026 National Sports Festival
-
Sports4 days ago
Kwara Hopeful To Host Confed Cup in Ilorin
-
Sports4 days ago
RSG Award Renovation Work At Yakubu Gowon Stadium
-
Politics4 days ago
Rivers Assembly Resumes Sitting After Six-Month Suspension