Ikeja Electricity Distribution Company says it has reduced the tariff for customers under Band A classification to N206.80 per kilowatt-hour (kwh).
Gatekeepers News reports that announcing the slash in a circular on Monday, Ikeja Electric said the new tariff regime will take effect from May 6, 2024.
On April 3, the Nigerian Electricity Regulatory Commission (NERC) approved an increase in electricity tariff for customers under the Band A category to N225 per kwh — from N66.
The commission said customers under the classification are those who receive 20 hours of electricity supply daily.
“Please be informed of the downward tariff review of our Band A feeders from N225/kwh to N206.80/kwh effective 6th May 2024 with guaranteed availability of 20-24hrs supply daily,” the circular reads.
However, the DisCo said the tariff for bands B,C,D and E are unchanged.
On April 4, NERC said the approved tariff increase is expected to reduce subsidy for the 2024 fiscal year by about N1.14 trillion.
“With the newly approved tariffs, subsidies for the 2024 fiscal year are expected to reduce by about NGN1.14 trillion in furtherance of the federal government’s realignment of the subsidy regime,” NERC said.
Musliu Oseni, vice-chairman of the commission, said the new tariff will bolster the nation’s economy.
