The Nigeria Electricity Regulatory Commission (NERC) has disclosed that it is considering a major adjustment in the calculation of electricity tariff to be paid by consumers in the country’s electricity sector, ThisDay reports.

NERC in a consultation paper on the review of the Multi Year Tariff Order (MYTO), which it released in Abuja Wednesday, stated that it was looking to introduce a flexible electricity tariff review, one that would see tariffs reviewed either on a monthly or quarterly basis to reflect periodic changes in the country’s economy.

The MYTO is the sector’s guiding document for determining the tariff charged to consumers by electricity distribution companies (Discos). It is often reviewed annually and bi-annually by the regulator, wherein changes in fundamental aspects of the industry’s business like foreign exchange, inflation rates, gas prices and capacity generation, amongst others, are captured and inputted in the tariffs of the Discos to their customers.