The Federal Government has said that it is going to set up regional power pool in the six geograghical regions and that each region would be allowed to have its own Regional Electricity Regulation Commission (RERC) a replica of the National Electricity Commission (NERC).
The Executive Chairman of NERC, Dr. Sam Amadi said in Lagos yesterday at an interactive session with the National Economic Summit Group (NESG).
The NERC chairman who was represented by Mr. Eyo Ekpo, the commissioner in charge of Tariff and Pricing, said each state and region was expected to generate, transmit and distribute power but no state would be allowed to distribute power beyond its boundaries in so doing they would be able to charge their consumers within its territory the appropriate pricing.
He said that in the next five years the nation would be attracting over $20 billion investment in the power sector each year with an average of 7,500MW generated each year.
According to him this quantum of investmemt envisaged is part of the reason for increasing tarrif. However he said that the tariff was designed to encourage the Nigerian private sector to invest in the power sector.
But the NESG said that the review of the tariff which was not in favour of manufacturers would eventually make them pass the cost to the ordinary Nigerian who would be made to pay higher for the goods and services of the manufacturers.
The commission said under the new tariff regime majority of electricity consumers would pay between N11 and N12 instead of the average cost of N24.
It also said low electricity consumers (low income customers) would pay a low rate for their electricity.