Lagos - The federal government decision to retain the electricity Multi Year Tariff Order (MYTO 2) is causing disaffection among the new core investors of the recently privatised former Power Holding Company of Nigeria (PHCN), reports Daily Independent.
The government refused to bow to intense pressure from core investors in Distribution and Generation Companies (DISCOs) to increase electricity tariffs to enable them recoup their expenses.
To drive home their grievances, the Chief Executive Officers of some DISCOs boycotted the monthly meeting with Nigerian Electricity Regulating Commission (NERC).
Sam Amadi, NERC’s chairman, frowned at the attitude of some new owners for failing to attend crucial meetings, saying the commission would device stringent and stiffer conditions against some of the CEOs that fail to attend subsequent meetings with it.
Read more at Daily Independent