NERC Approves Tripple Increase in Electricity Tariff for Customers With Effect From April 3rd

The Nigerian Electricity Regulatory Commission (NERC) has recently given its approval for an increase in electricity tariff for customers classified under Band A....READ FULL ARTICLE

Musliu Oseni, the Vice-Chairman of NERC, made this announcement during a press conference held in Abuja on Wednesday.

According to Oseni, customers falling under the Band A classification, who currently receive 20 hours of electricity supply daily, will now be required to pay N225 per kilowatt (kw), starting from April 3.

Related Post  Video Of Lagosians Taking To the Streets To Protest Against Economic Hardship Goes Viral (WATCH)

This new rate is approximately three times higher than the existing rate. In his statement, Oseni emphasized that only a specific segment of customers will be affected by this rate increase.

He mentioned that the commission has reviewed the application by the distribution companies and concluded that only 17 percent of feeders and less than 15 percent of customers will experience any approved rate increase.

Related Post  BREAKING: Hardship;Nigerian students abroad beg Tinubu to pay scholarship stipends

To implement this decision, the commission has issued an order titled “April 2024 Supplementary Order,” which serves as a supplement to the order issued in December and effective since January 2024.

Oseni explained that this supplementary order approves a rate review of N225 per kilowatt-hour for just under 50 percent of the customer population in NERC’s network. Oseni further clarified that the majority of customers previously classified as Band A customers will not be affected by this rate review.

Related Post  Keep rolling: Chinese company begins full production of 1000km range electric car batteries - could this end up in a Geely model in Australia?

He reiterated that less than 15 percent of the customer population will experience any changes in their electricity tariffs....READ FULL ARTICLE

Be the first to comment

Leave a Reply

Your email address will not be published.