The new tariff regime reduces the cost of electricity for rural consumers who do not use electronics or other heavy equipment. However, more affluent consumers, commercial and industrial consumers would pay significantly higher rates above the N4 per kilowatt hour that would be paid by the very poor.
Ahead of the commencement of the scheme, yesterday, the Federal Government said it was disbursing a N100 billion stabilization fund to subsidise the cost to be borne by consumers rated below the N24/Kwh cost of production over the next two years, at the rate of N50billion for 2012 and 2013 respectively.
Middle income consumers would be expected to pay between N11 and N12/Kwh. The highest rate would be paid by consumers living in high brow areas of the country such as Maitama, Asokoro in Abuja, Ikoyi and Banana Island in Lagos. Consumers in these areas grouped as R3 and R4 would pay as much as N23.71/kwh with fixed meter charges of N21,256.30 and N118,830.56 respectively.
Appearing before the House of Representatives, yesterday, the Minister of Power, Prof. Barth Nnaji, said the new tariff regime was formulated to stabilise the sector as well as attract private investments that is required to drive the sector in the medium to long term. Ministry sources also said the new pricing regime will enthrone efficiency and good governance in the Nigerian Electricity Supply Industry (NESI), eliminate waste and guarantee cost-reflective pricing.
Besides, Vanguard learnt, yesterday, that the Ministry of Power is to distribute free energy saving bulbs that allow lower power consumption and consequently lower electricity bills to be paid by the customers. Four-watt energy saving bulbs, which are said to be safer and reduce health hazards, will be deployed in place of present heavy energy consuming 40 and 60 watt bulbs.
VANGUARD
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