TCN seeks to repay loan with tariff hike

The Transmission Company of Nigeria (TCN) plans to repay its loan with the an ‘extraordinary’ tariff review, the approval of which has been pending with the Nigeria Electricity Regulatory Commission (NERC) since last year, it was gathered yesterday.

The company is currently collecting a tariff that is lower than what it ought to collect, hence, the request for a cost reflective tariff. From the existing tariff, the TCN gets between 30 per cent and 40 per cent of the electricity market monthly revenue.

The Chief Executive Officer, Mr. Usman Gur Mohammed had lamented in Abuja that the company presented the tariff hike plan to NERC for approval, stressing that “unfortunately up till now, it has not been approved.” He however said the government has not neglected the TCN since it has supported it to secure funds from multilateral donor agencies.

Source: The Nation

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