The Nigerian
Electricity Regulatory Commission has insisted it would retain its planned 45
per cent increase in electricity tariff as it said it would file an appeal
against
the court ruling that mandated it to reverse the 45 per cent increase
in electricity tariff across the country.
This was made available to newsmen at
a press briefing issued Friday, at its headquarters in Abuja. Recall that a
Federal High Court in Ikoyi, Lagos had on Wednesday reversed the 45 per cent
increase in electricity.
The court had declared that the hike in tariff was
illegal and directed that it should be reversed immediately, a judgment which
NERC had agreed to comply with.
However, the commission changed its stance
after consulting with its lawyers on Friday.
The court held that the
implementation of the 45 per cent increase constitutes a violation of its
interim order and awarded N50,000 cost against NERC.
Speaking at the briefing,
the Acting Chief Executive Officer, NERC, Dr. Tony Akah, said the commission
was aware of the judgement which declared the electricity tariff regime that
became operational on February 1, 2016 as illegal.
He said, “The commission
respects this decision of the court but we are dissatisfied because it
represents the reversal of the commercial foundation upon which contracts for
gas, hydro, coal and solar feedstock for the production of electricity have
been predicated.
“This judgment, in our view, is a setback to the progress made
so far in the electricity sector.
Therefore, we challenge this decision. We
have instructed our lawyer to appeal. Consequently, the commission has filed
for stay of execution and a notice of appeal of the judgement yesterday.”
He
also expressed hopes that ultimately power consumers as well as institutions
would come to a better understanding of the values of the choice made to
privatise the power sector.
Akah said, “Therefore we ask investors, as well as
customers in the electricity market not to panic as we seek a resolution within
the ambit of the established laws.
“The commission remains committed to
continuously provide the right regulatory framework that would promote private
sector investment in the electricity supply industry and also protect the
interests of electricity customers as enshrined in the Electric Power Sector
Reform Act 2005.”
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