To sustain power sector operations, the commission said it recognises the significance of enhancing market remittances and is providing DisCos with revenue-boosting initiatives.
said the federal government incurred a subsidy obligation of N135.23 billion on electricity in the second quarter of the year.The report said in the absence of cost-reflective tariffs, the government undertakes to cover the resultant gap in the form of tariff shortfall funding.
“For ease of administration of the subsidy, the MRO is limited to NBET only with the MO being allowed to recover 100 per cent of its revenue requirement from the DisCos,” it said. “The significant improvement in remittance performance by DisCos is because a large portion of the NBET invoice is to be covered by the government in the form of subsidies.
“The introduction of the SBT and opportunities for DisCos to improve customer service through better energy supply quality is a clear path to increased revenue without broad-based tariff increases.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Consumers paid N268bn electricity bills to DisCos in Q2 2023Despite economic hardship, the Nigerian Electricity Regulatory Commission says power consumers paid N267.86bn as electricity bills in the second quarter of 2023. It disclosed this in the second quarter 2023 report of NERC on Monday while explaining the collection efficiency of power distribution companies during the review period.
Read more »
Ballon d’Or 2023: Organizers contact Messi as winner of award is leakedInter Miami forward, Lionel Messi, is expected to win his eighth Ballon d'Or later this month. According to the UK Mirror, the winners for both the male and female awards for 2023 have been leaked. Messi led Argentina to World Cup glory in Qatar last year.
Read more »
CO2 pollution expected to hit new record in 2023Global emissions of planet-heating carbon dioxide are expected to rise around one percent to reach a new all-time high in 2023, the climate scientist behind the preliminary research said Tuesday.
Read more »
‘Obi not Tinubu won 2023 presidential election’ – Ex-SGF, Babachir LawalA former Secretary to the Government of the Federation (SGF), Babachir Lawal, said in Abuja on Tuesday that the candidate of the Labour Party, (LP) Peter Obi, won the February 25 presidential election and not Bola Tinubu as declared by the Independent National Electoral Commission (INEC).
Read more »
2023 Polls: Ex-BBNaija Star Laycon Berates 'Unpatriotic Nigerians'Big Brother Naija Season 5 winner, Olamilekan Agbeleshe, popularly known as Laycon, has questioned the attitude of some Nigerians who are “hoping and praying”
Read more »
JUST IN: Obi Won 2023 Election, Tinubu Came Distant Third – Former SGF Babachir LawalA Trusted Nigerian Newspaper
Read more »