- The Nigerian Electricity Regulatory Commission NERC has instructed electricity companies to slash their rates for Band A customers
- The new tariff is expected to be implemented by AEDC, PHEDC, IBEDC and EEDC, among others, including Ikeja Electric
- The decision to slash electricity rates will come as good news for Nigerians already stretched by the cost of living
Source: Legit.Ng
The Nigerian Electricity Regulatory Commission (NERC) has approved a new electricity tariff for customers under the Band A category for all distribution companies (DisCos) in the country. According to a circular signed by the management of the commission on Monday, May 6 2024, Band A customers will now pay N206.8 per kWh of electricity.
The new tariff represents an 8.1% rate cut compared to the previous rate of N225/kWh announced on April 3, 2024.
NERC explained the new electricity tariff
In its statement, NERC said that revising the 2024 MYTO for Band A customers reduced tariffs for all discos, Punch reports.
The statement reads.
“Pursuant to the tariff methodology adopted by the Nigerian Electricity Regulatory Commission, the Commission has issued a revised tariff order covering May 2024 to the eleven (11) electricity distribution companies.
“The Commission has considered changes in the macroeconomic parameters over the preceding month of April 2024 and especially the appreciation of exchange rates – consequently the Commission has approved a downward review of end-user tariffs for Band “A” customers from NGN225/kWh to NGN206.8/kWh.
“The Commission reaffirms its commitment to providing a balanced and effective regulatory regime serving the needs of the Nigerian Electricity Supply Industry.
Source: Legit.Ng
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