Over billing: NERC fines AEDC, others
Economy, Power
THE Abuja Electricity Distribution Company (AEDC) and other electricity distribution companies are to pay different fines for over billing customers.
The AEDC alone will pay N1.69 billion-fine, according to a publication of the Nigerian Electricity Regulatory Commission (NERC).
The fine is detailed in Order NERC/2024/114 published on NERC’s website on Friday.
NERC says it is part of its September 2024 Supplementary Order.
The order, signed by NERC Vice- Chairman, Mr Musiliu Oseni and Commissioner for Legal, Licensing, and Compliance, Mr Dafe Akpeneye, follows a comprehensive investigation into AEDC’s billing practices.
According to the Order, NERC finds out that AEDC and other distribution companies overcharged customers between January and September, 2023.
The commission said that the respective fines “represent 10 per cent of the over billed amount”.
The document also stated that AEDC’s annual operating expenditure would be reduced by N1.69 billion effective from September.
The Order said that the Benin Distribution Company was fined N804 million, Enugu Distribution Company; N310 million, Eko Distribution Company; N1.41 billion, while Ibadan Distribution was fined N15 million
According to the Order, Ikeja Distribution Company will pay N1.41 billion-fine, Jos Distribution Company; N1.33 billion and Kaduna Distribution Company; N115 million.
Others are Kano Distribution Company; N20 million Port-Harcourt Distribution Company; N1.16 billion and Yola Distribution Company; N54 million.
The NERC noted the penalty was a response to the distribution companies’ non-compliance with previous directives aimed at capping estimated billing for electricity consumers.(NAN)
13th September, 2024.
C.E.
Related Posts
SMEDAN partners GIZ to boost MSME development
THE Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) says it will partner the German International Agency (GIZ) and...
Read MoreNigeria’s inflation rate further declines to 32.15% in August- NBS
THE National Bureau of Statistics (NBS), says Nigeria’s headline inflation rate further declined to 32.15 per cent in August 2024....
Read MoreNaira depreciates further in parallel market, falls to N1,660/$
THE Naira continued its downward trend on Friday, depreciating to N1,660 per dollar in the parallel market. This represents a...
Read MoreMost Read
Subscribe to Our Newsletter
Keep abreast of news and other developments from our website.