AEDC Denies Plans To Increase Electricity Tariffs

Abuja Electricity Distribution Company, AEDC, has denied plans to increase electricity tariffs.

Gatekeepers News reports that the AEDC dunked this in a statement signed by its management on Monday.

AEDC said, “Please disregard the communication circulating in the media regarding the review of electricity tariffs.

“Be informed that no approval for such increments has been received. We regret any inconvenience.”

Meanwhile, the company earlier hinted an upward review of the electricity tariff which according to the management will be influenced by the fluctuating exchange rate.

AEDC had said in a statement, “Effective July 1, 2023, please be informed that there will be an upward review to the electricity tariff influenced by the fluctuating exchange rate.

“Under the MYTO 2022 guidelines, the previously set exchange rate of N441/$1 may now be revised to approximately N750/$1 which will have an impact on the tariffs associated with your electricity consumption.”

According to the company, customers within band B and C, with supply hours ranging from 12 to 16 per day, the new base tariff is expected to be N100 per kWh while Bands A with (20 hours and above) and B (16 to 20 hours) will experience comparatively higher tariffs.

It further encouraged customers with prepaid meters to consider purchasing bulk energy units before the end of the month as this will allow them take advantage of the current rates and potentially make savings before the new tariffs come into effect.

AEDC had said, “For customers with a prepaid meter, we encourage you to consider purchasing bulk.”