Umuahia – Gov. Theodore Orji of Abia has said that the introduction of the Multi Year Tariff Order (MYTO) would end the epileptic power supply in the country.
Orji made the remark on Thursday in Umuhia during a South East Power Consumer Assembly organised by the Nigeria Electricity Regulatory Commission (NERC).
MYTO is an instrument that will set tariffs in the sector based on certain principles and assumptions.
Some of the principles and assumptions include cost recovery/financial viability, signals for investment, certainty and stability.
The rest are efficient use of the network and allocation of risk.
Represented by Mr Nick Eleri, the Commissioner for Government House, Orji appealed to NERC to ensure that the new regulatory process was properly implemented.
He urged NERC to ensure that Nigerians were given proper education on the benefits of the order.
“If the order is well accepted by Nigerians, the target for creating this regulatory procedure would have been met,” Orji said.
Orji stressed that proper implementation of the new electricity regime was crucial to socio-economic development of Nigeria.
Mr Sam Amadi, the Chief Executive of NERC, said that the organisation considered the positions of consumers and the service providers in arriving at the plan.
“NERC will ensure that consumers are not exploited and that the power distribution companies are efficient in service delivery,” Amadi said.
He said that NERC’s aim was to make the business environment viable for local and international investors.