The Nation Newspaper Forex denominated gas pricing may hike electricity tariff
Electricity consumers may have to gear up for a monthly tariff adjustment as the cost of providing electricity across the value chain is said to be on the rise.
Industry sources said that although gas price sales to the industry has remained constant at $2.18 base price since 2021, the rising value of the dollar against the naira has made the cost of sourcing the product more challenging. This high cost induced by the exchange rate, it is believed, led to the shortage of gas supply to Generating Companies , who, for a long time, have been unable to pay their gas suppliers, leading to the near total darkness the country has witnessed recently.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: