For the third time in four months, the Nigerian Electricity Regulatory Commission (NERC), yesterday, approved another round of upward review of electricity tariff for customers on Band A.
The new tariff, which became effective on Monday, is now N209.50 per kwh, up from N206.80/kWh. Already, Distribution Companies (DisCos), have notified electricity users on the band of the hike.
For instance, Ibadan Electricity Distribution Company (IBEDC) Plc said in a statement yesterday: “Effective immediately, the tariff will be adjusted from N206.80/kWh to N209.50/kWh. This review has been duly approved by NERC as captured in the multi-year tariff supplementary order.”
The statement which was signed by the IBEDC Acting Managing Director Francis Agoha. Clarifying that the increase affected only “our Band A customers,” it said that the tariffs for Bands B, C, D, and E remain unchanged.
IBEDC further explained that while it is aware that any change in tariffs can be of concern to customers, the latest adjustment was necessitated by several key economic indices, including fluctuations in the exchange rate, inflation rate, available generation capacity, and the cost of gas.
