The Ikeja Electric (IE) and other electricity distribution companies (DisCos) are now adjusting their tariffs based on authorization by the Nigerian Electricity Regulatory Commission (NERC).
Confirming the development in media chats on Wednesday, the Ikeja Electric spokesman, Kingsley Okolie, said the regulator had approved the upward adjustment of the tariff for customers in Band A, representing the third review in the last four months.
Similarly, the Acting Managing Director of Ibadan Electricity Distribution Company (IBEDC), Francis Agoha, in a Notice to customers confirmed that industry regulatory commission approved the tariff from N206.80/kWh to N209.50/kWh for users in the category.
However, Agoha maintained that the tariffs for Bands B, C, D, and E remain unchanged.
The Notice reads: “Effective immediately, the tariff will be adjusted from N206.80/kWh to N209.50/kWh. This review has been duly approved by the Nigerian Electricity Regulatory Commission (NERC) as captured in the multi-year tariff supplementary order.
“The adjustment is necessitated by several key economic indices, including fluctuations in the exchange rate, the current inflation rate, available generation capacity, and the cost of gas. These factors have significantly impacted operational costs, and the new tariff will mitigate these financial pressures while continuing to deliver high-quality electricity services.
“It is important to note that this adjustment affects only our Band A customers. The tariffs for Bands B, C, D, and E remain unchanged. We remain committed to providing reliable and efficient electricity services to all our customers across different bands.
“We understand that any change in tariffs can be a concern for our customers, and we assure you that this adjustment is necessary to maintain and improve the quality of our services. Our goal is to ensure that you receive the best possible value for your money”, it added.
