IBEDC Announces Higher Electricity Tariffs for Band A Customers

IBEDC Announces Higher Electricity Tariffs for Band A Customers

Jul 8, 2024 - 00:54
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IBEDC Announces Higher Electricity Tariffs for Band A Customers

By: Abdulwasiu Akintunde 

The acting Managing Director of the Ibadan Electricity Distribution Company (IBEDC), Francis Agoha, has announced that the Nigerian Electricity Regulatory Commission has approved an increase in tariffs from N206.80/kWh to N209.50/kWh for Band A customers. 

Following the public notice that was signed by Agoha on Wednesday, tariffs for Bands B, C, D, and E will remain stagnant. 

The notice stated, “Effective immediately, the tariff will be adjusted from N206.80/kWh to N209.50/kWh. This review has been approved by the Nigerian Electricity Regulatory Commission (NERC) as per the multi-year tariff supplementary order." 

IBEDC also explained that the increase was driven by key economic factors such as exchange rate fluctuations, current inflation, generation capacity, and the cost of gas, which have all significantly impacted operational costs. 

The new tariffs aim to mitigate these financial pressures while maintaining 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 are committed to providing reliable and efficient electricity services to all our customers across different bands.

"We understand that any change in tariffs can be concerning for our customers, and we assure you that this adjustment is essential to maintain and enhance the quality of our services," said Francis Agoha." 

"Our goal is to ensure that you receive the best possible value for your money."

The adjustment is necessitated by key economic factors such as fluctuations in the exchange rate, the current inflation rate, available generation capacity, and the cost of gas, all of which have impacted operational costs. The new tariff aims to 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 are committed to providing reliable and efficient electricity services to all our customers across different bands," Agoha reiterated.

OPEN TELEVISION Naija reports that concerns was highlighted from Nigerians on estimated billing, who lamented about being exploited by electricity distribution companies despite not enjoying reliable electricity.

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