Power stakeholders at PwC forum canvass for cost reflective tariffs

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In light of the recent force majeure declared by power distribution companies in the country as a result of the “eligible customers” policy introduced by the federal government, representatives of the major stakeholders in Nigeria’s power industry have expressed common views that the electricity tariff needs to reflect the cost at which it is generated and distributed, THISDAY reports.

These views were expressed at PricewaterhouseCoopers (PwC’s) 2017 Power and Utilities Roundtable held in Lagos, yesterday. The Managing Director and Chief Executive Officer of Benin Electricity Distribution (BEDC), Mrs. Funke Osibodu and the CEO of Sahara Power Group, Mr. George Oluwande, during a panel discussion both corroborated this view.

Also, a Deputy Director and the Project Manager of the Nigerian Power Reform Programme at the Bureau of Public Enterprises (BPE), Mr. Amaechi Aloke, said the Nigerian government was in favour of a price increase. “There is no running away from it,” he said, although he suggested that any increase might have to be spread over a period of time. “The market today is still unstable.”