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Electricity Should Be Rightly Priced As A Product – NERC

Teddy Nwanunobi, Abuja

Acting Chief Executive Officer of the Nigerian Electricity Regulatory Commission (NERC), Dr. Anthony Akah, on Thursday in Abuja declared that electricity must be priced rightly.

Akah, who spoke during a courtesy call on the Director General of the National Environmental Standards and Regulations Enforcement Agency (NESREA), Dr. Lawrence Chidi Anukam, explained that it was part of NERC’s engagement with strategic institutions/organisations in Nigeria.

He said that the functions of the NERC includes protection of consumers, as well as to ensure that providers of electricity are allowed to make reasonable profit from their businesses.

Akah, in an emailed statement issued by Head, Public Affairs Department, Dr. Usman Abba Arabi, said that the Commission should never be seen as siding with either the consumers or the market participants.

“Rather, it works to create a level playing field for all market participants and other stakeholders. The Commission promotes competition for market practices based on the realities in the sector and the dynamics of the economy.

“Power is a product, and should be rightly priced. NERC ensures best practice in power,” Akah said.

He added that the new tariff is to provide fair return on investment in the value chain.

He told his host that the impact of the Commission needed to be felt across the country, thus the need for collaboration with NESREA for the purpose of sustained energy efficiency.

The Director General of NESREA, Anukam, welcomed the strategic visit and informed the delegation that the agency looks at the impact of generation and distribution and the disposal of waste that may arise from those facilities.

According to him, NESREA’s mission is for a clean Nigeria.

“NERC and NESREA will be forming a task team for the realisation of their common goal,” he added.

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