May 30, 2024

FG reduces Band A electricity tariff to N206.80/kWh from N225/kWh


Adewale Akintaro

The Nigerian Electricity Regulatory Commission (NERC), has ordered the reduction of electricity tariff for Band A customers to N206.80 per kilowatt-hour from the N225/kWh.

The tariffs for Bands B, C, D, and E customers remain unchanged.

Electricity market operators on Monday stated thus:

“Effective from May 6, 2024, Band A end-user tariffs have been reviewed to NGN206.8/ kWh under MYTO 2024. This is largely driven by the relative appreciation of the Naira in the official foreign exchange window”

Electricity Distribution Companies (DisCos), have commenced a reduction in tariffs for Band A customers.

Ikeja Electric (IE), Eko Electricity Distribution Company (EKEDC), and the Abuja Electricity Distribution Company (AEDC), have sent notices to their customers, saying the development was in alignment with the cost-reflective tariffs framework introduced in 2020.

Ikeja Electric in a notice to customers stated thus:

“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”.

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