Home Business NERC Slams AEDC with ₦1.69bn Fine for Overbilling Customers
Business

NERC Slams AEDC with ₦1.69bn Fine for Overbilling Customers

Share
AEDC Announces Power Outage In Parts Of Abuja Today
Share

The Nigerian Electricity Regulatory Commission (NERC) has imposed a hefty fine of ₦1.69 billion on Abuja Electricity Distribution Company (AEDC) for overbilling its customers.

According to NERC’s September 2024 Supplementary Order, AEDC failed to comply with the commission’s previous order on capping estimated billing for electricity consumers, resulting in overbilling from January to September 2023.

The fine is equivalent to 10% of the overbilled amount.

“The commission has approved the deduction of ₦1.69bn from AEDC’s annual operating expenditure as a penalty for non-compliance with the order on capping estimated bills,” NERC’s order stated.

READ ALSO: FG Plans Sale of 5 DisCo Companies

NERC also issued directives to AEDC regarding Band A customers, mandating the company to publish explanations for failure to deliver committed levels of service and ensure continuous monitoring of service levels. Alao, AEDC is required to procure a minimum of 61MW of embedded generation, with at least 30MW sourced from renewable energy, to improve the reliability of electricity supply within its franchise area.

“AEDC shall make appropriate compensation to the affected customers in Band A feeders listed in Appendix 3 for failure to deliver up to 20 hours of average supply but more than 18 hours of average supply,” NERC stated.

 

 

Share

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles
FG Reacts to Trump's 14% Tariff on Nigerian Exports | Daily Report Nigeria
BusinessNews

FG Reacts to Trump’s 14% Tariff on Nigerian Exports

The Federal Government of Nigeria has acknowledged the recent imposition of a...

World Bank Blacklists 18 Nigerian Firms, Individuals for Corrupt Practices | Daily Report Nigeria
Business

World Bank Clarifies $10.50m Funding to CBN as Grant, Not Loan

The World Bank has clarified that the $10.50 million funding for the...

Nigeria Spends N11.8bn on Apple Imports as Fruit Prices Soar | Daily Report Nigeria
Business

Nigeria Spends N11.8bn on Apple Imports as Fruit Prices Soar

Nigeria imported N11.8 billion worth of apples in the last quarter of...

CBN Speaks on Plans to Revoke Licenses of Fidelity, Wema, Polaris, Unity Banks
Business

CBN Injects $197.71 Million into FX Market to Boost Liquidity

CBN has injected $197.71 million into the foreign exchange market to ensure...