A NEW
electricity tariff regime with potentially grave cost implications for urban
dwellers, the rich and commercial concerns commences today.
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, it was 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.