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FG to cushion electricity supply with N179b

From TONY OTARU, Abuja

HOPES appears rekindled for electricity consumers nationwide as the Nigerian Electricity Regulatory Commission (NERC) has said that about 178.98 billion naira have been set aside by the federal government to cushion the epileptic power supply for the next three years.

Accordingly, this amount will be used to purchase various electricity generating equipments, revive comatose electricity dams and resuscitate all malfunctioning parts being handled presently by the power holding companies (PHCN). Also NERC is already working on the implementation plan for the Power Consumer Assistance Fund having in mind the very importance of electricity to the nation’s overall economy.

The chairman of the Nigeria electricity Regulatory Commission (NERC), Dr. Ransome Owan stated this at the first customer complaints forum inaugurated in Abuja. Owan said the Consumer Assisted fund will be used to provide assistance to vulnerable customers who deserve it as they confront the realities of correct pricing of electricity down the road.

He opined that the need to protect the potentially divergent interest consumers and distribution companies, NERC as the sector umpire is setting up today a dispute resolution body that is the forum for consumers and distribution companies as this body will help douse conflicts counter productive of the pursuit of the laudable goals of the power sector reforms.

He stressed that the reforms in the power sector has made it imperative which has made consumer protection necessary adding that the forum was put in place because of the increasing exposure to greater market risks as the reforms progress and the need to facilitate correct market prices and at the same time ensure affordable electricity means that vulnerable customers need to be protected as well among others.