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31. Tariff
(1) As soon as
may be, but not later than six months from the commencement of this Act, the
Authority shall determine and prescribe procedures and standards for
determination, modification or revision of rates, charges and terms and
conditions for generation of electric power, transmission, inter-connection,
distribution services and power sales to consumers by licensees and until Such
procedures and standards are prescribed, the Authority shall determine, modify
or revise such rates, charges and terms and conditions in accordance with the
directions issued by the Federal Government.
(2) The Authority
while determining the standards referred to in sub-section (1) shall
(a) protect
consumers against monopolistic and oligopolistic prices;
(b) keep in
view the research, development and capital investment programme costs of
licensees;
(c) encourage
efficiency in licensees' operations and quality of service;
(d) encourage
economic efficiency in the electric power industry;
(e) keep in
view the economic and social policy objectives of the Federal Government; and
(f) determine
tariffs so as to eliminate exploitation and minimize economic distortions.
(3) The
procedures established under sub-section (1) shall include-
(a) time frame
for decisions by the Authority on tariff applications;
(b) opportunity
for customers and other interested parties to participate meaningfully in the
tariff approval process; and
(c) protection
for refund, if any, to customers while tariff decisions are pending.
(4) Notification
of the Authority's approved tariff, rates, charges, and other terms and
conditions for the Supply of electric power services by generation, transmission
and distribution companies shall be made, in the official Gazette, by the
Federal Government upon intimation by the Authority:
Provided that the Federal
Government may, as soon as may be, but not later than, fifteen days of receipt
of the Authority's intimation, require the Authority to reconsider its
determination of such tariff, rates, charges and other terms and conditions.
Whereupon, the Authority shall, within fifteen days, determine these anew after
reconsideration and intimate the same to the Federal Government.
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