The Nigerian Electricity Regulatory Commission (NERC) has directed a downward review of electricity tariffs for Band A customers to N206.80 per kilowatt-hour from N225/kWh.
In a statement released on Monday, the electricity market operator attributed this development to the appreciation of the naira in the official exchange window.
“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,” the statement read.
In response, Electricity Distribution Companies (DisCos) have begun reducing tariffs for Band A customers. Notices sent to customers on Monday by the DisCos emphasized that this move aimed to enhance service delivery for customers in the specified category.
Ikeja Electric (IE), in an earlier notice, stated that the reduced electricity tariff for its Band A customers had been adjusted to N206.80 per kilowatt-hour from N225/kWh, as approved by NERC.
“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 statement from IE said.
Similarly, Eko Electricity Distribution Company (EKEDC) and the Abuja Electricity Distribution Company (AEDC) issued similar notices to their customers, aligning with the cost-reflective tariffs framework introduced in 2020.
Tariffs for Bands B, C, D, and E customers remain unchanged. AEDC also confirmed the review of tariffs for Band A customers.