Group of generating companies,Egbin Power Plc, Geregu Power Plc, Transcorp Power Ltd, Kainji Hydro Electric Plc, and Jebba Hydro Electric plc. have sued the National Electricity Regulatory Commission before a Federal High Court in Abuja.
The group of the generating companies are asking the court to stop the commission from reviewing the tariffs being charged by them.
Apart from NERC, the other respondents to the originating summons amended on May 6, 2016, are the Senate and the Attorney-General of the Federation.
The MYTO which became effective on February 1, 2016 was designed to cover the period 2015 to 2024.
The MYTO, under the electricity market rules, provides a 15 year tariff path for the Nigerian electricity industry with limited minor reviews each year in the light of changes in a limited number of parameters (such as inflation and gas prices) and major reviews every five years, when all of the inputs are reviewed with stakeholders.