Business owners under the aegis of Cooperative Business Society of Abuja (CBSA) have protested the huge rise in electricity tariff in the Federal Capital Territory (FCT).
The group described the actions of Abuja Electricity Distribution Company (AEDC) as inimical to economic and business growth, and knocked the hike as a flagrant disregard of the Multi-Year Tariffs Order contained in the guidelines by the National Electricity Regulatory Commission (NERC).
CBSA called it a set back to business growth, especially as the world economy faces turbulent times.
AEDC recently jerked up the rate for business from N22.08 to N35.03 per kilowatt, about 58 per cent increase.
A petition signed by 25 heads and managers of business entities that formed the CBSA said: “We object to the sudden increase by 58.55 per cent in electricity kilowatt from N22.08 to N35.03 for commercial power consumers in the FCT.
“According to the Multi-Year Tariff Order for the NERC, the maximum electricity increase for 2015 is 5 per cent.
“We are shaken by this blatant disregard to the commission’s guideline and total lack of interest in the businesses operating in the capital city. Many businesses have collapsed under the ever increasing weight of cost of operation and harsh economic environment.
“We are already struggling to keep our heads above water as our businesses groan under the austere economic situation in the country.
“The increase will definitely run down our businesses and have a negative impact on our stakeholders, and by extension, the AEDC. We strongly object to this increment and request the AEDC to revoke it.”
The group appealed to the NERC and all concerned citizens to intervene in the interest of the public, and urged AEDC revert to normal tariff increment as contained in NERC guidelines.