Edited By Margret Oshinowo
NERC announced an eight percent reduction on electricity tariff paid by customer in Band A from N225/kWh to N206.8/kWh on Monday.
In a statement made by the commission in Abuja, It was said that the reduction was as a result of changes in macroeconomic indices in the month of April, especially the appreciation of the Naira against the Dollar in the foreign exchange market.
The statement read: “Pursuant to the tariff methodology adopted by the Nigerian Electricity Regulatory Commission, a revised tariff order covering the month of May 2024 has been issued by the Commission 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”.
NERC had faced opposition to its decision to hike the tariff for about two million customers in Band A, which effectively removed Federal Government subsidies for customers in that band. The new tariff, however, guaranteed them a minimum of 20 hours supply of electricity.
Since then, the utilities had struggled to meet the minimum supply target with all of them pleading daily to the affected customers on the reason for their inability to meet up with 20 hours of supply.
Earlier in the day, electricity distribution companies, DisCos took to their social media handles to inform their customers of the downward review of the tariff which took effect from May 6, 2024.
Abuja DisCo in a notice to its customers said: “We are pleased to share with you the revised tariff for our Band A feeders, which will decrease from N225/kWh to N206.8/kWh effective today, May 6th, 2024.
“We assure customers on our Band A feeders of continued availability of electricity supply for 20-24 hours daily. Please note that the tariffs for Bands B, C, D and E remain unaffected”.
On its part, Kaduna Electric said: “The management of Kaduna Electric is pleased to inform the public of downward review in the tariff of our Band A feeders from N225/kWh to N206.80/kWh.
“The review is effective from 6th May 2024 and affects both prepaid and postpaid customers. The public should please note that the tariff for Bands B, C, D, and E remains unchanged”.
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