Multi-Year Tariff Order Minor Review
NERC released the Multi-Year Tariff Order (MYTO) effective from January 1, 2023.
NERC released the Multi-Year Tariff Order (MYTO) effective from January 1, 2023.
The tariff shortfall declined from N245 billion in 2021 to N166 billion in December 2022 releasing more government funds for education, health, and social protection.
Financing Plan for the PSRP Programme was approved, clearly identifying how the sector shortfalls will be financed.
Release of Multi-Year Tariff Order (MYTO) effective from July 1, 2022.
The website provides updated information about programme objectives, goals and activities, sector performance data, and reform milestones.
A one-day workshop was held with the media as part of the Nigerian public education process on the PSRP programme.
The second disbursement by the World Bank under the PSRO was released bringing the total amount disbursed to $288 million.
The government engages CSOs to get support and buy-in.
Tariff shortfall declined from N528 billion in 2019 to N245 billion in 2021- a reduction of 53%, moving the sector towards financial sustainability.
The 2022 MYTO order sets new electricity tariffs for 11 DisCos. Safeguards put in place for the poor continue.
NERC defined the minimum payments, from each DisCo to Nigerian Bulk Electricity Energy Trading Company (NBET) and will monitor and enforce payment discipline.
It identifies how tariff shortfalls will be paid off and promote sustainable growth of the Nigerian Electricity Supply Industry, to free public funds for education, health and social protection programmes.
The DisCo Performance Improvement Plans allow DisCos to plan toward service improvements with measurable indicators.
A team of technical experts was constituted to monitor and evaluate the Federal Government’s implementation of the PSRP.
The PSRP Finance/Technical Committee was constituted.
The Power Sector Recovery Programme (PSRP) is a comprehensive reform programme to improve power supply, restore financial viability and enhance accountability and transparency in the power sector.
PSRP is designed to restore the financial viability of the power sector, improve transparency and service delivery, resolve consumer complaints, and reduce losses and energy theft.
PSRO Secretariat
Budget Office of the Federation
Federal Ministry of Finance, Budget and National Planning
816 Ahmadu Bello Way
Central Business District, Abuja
Email: psro@budgetoffice.gov.ng.