The Nigerian Electricity Regulatory Commission (NERC) has released two draft regulations for the review of tariff and investments in the electricity networks.
The chairman of the commission, Dr. Sam Amadi, said the regulations were necessary to ensure a balanced operation in the electricity generation and supply industry.
Investors had expressed concerns over increase in the cost of doing business, which will affect effective service delivery in the sector.
At a public hearing at the headquarters of the NERC on Wednesday, key players in the energy sector came together to brainstorm on the draft regulations for investments in electricity networks and procedure for tariff reviews in subsequent years.
The chairman of the commission told the gathering that the procedure for major, minor and extraordinary tariff reviews and investments are critical towards efficient electricity supply and distribution.
The regulatory commission’s boss also spoke on the recent increase in the price of gas, saying it is aimed at increasing capacity and the power generation capacity.
The commission said that there would be more gas production if all the planned changes in the gas sector were implemented which would translate to sufficient and constant electricity and over the years, a reduction in the price of gas.
