In a recent development, the Ikeja Electricity Distribution Company (IKEDC) has announced a significant reduction in the tariff payable by its Band A customers.
The revised tariff now stands at N206.80 per kilowatt-hour, down from the previously approved rate of N225/kWh by the Nigerian Electricity Regulatory Commission (NERC). This information was disclosed by Olufadeke Omo-Omorodion, the spokesperson for IKEDC, in a notice provided to our correspondent on Monday.
Effective from Monday, May 6, 2024, the downward tariff review will come into effect for Band A customers. It is important to note that customers falling under other bands will not experience any changes in their respective tariffs.
IKEDC has also assured Band A customers of a minimum of 20-hour daily power supply, ensuring a reliable and consistent electricity service. In a statement, the IKEDC emphasized, “Dear Esteemed Customers, please be informed of the downward tariff review of our Band A feeders from N225/kWh to N206.80/kWh effective May 6th, 2024, with guaranteed availability of 20-24hrs supply daily. The tariff for Bands B, C, D, and E remains unchanged.”
This announcement comes after the NERC revised the electricity tariff for Band A customers on April 3. The previous tariff stood at N68 per kilowatt-hour and was increased to N255/kWh. However, it is worth noting that this revision did not impact customers falling under other bands. Since the release of the supplementary Multi-Year Tariff Order, Band A customers have expressed concerns about the financial burden imposed by the increased electricity tariffs and have called on the Federal Government to reconsider the policy.
During an investigative hearing last week Monday before the Senate Committee on Power, the Minister of Power, Adebayo Adelabu, warned that failure to implement the electricity tariff hike could result in a total blackout across the country within the next three months. This statement highlights the challenges and complexities surrounding the issue of electricity tariffs and their impact on the nation.
The reduction in Band A tariff by the IKEDC is expected to provide some relief to affected customers while ensuring continued access to electricity.
