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NEWS

NERC Orders 8.1% Reduction in Electrity Tariff

May 6, 2024 • 2 min read

6th May 2024

Following a May 2024 Supplementary Order on Tariff Increase on Band A Feeders issued by the Nigerian Electricity Regulatory Commission (NERC), the IKEJA Electric (IE) has announced a reduction in its Band A tariff from N225/KWh to N206.80/kWh.

Band A customers are those with a daily supply of a minimum of 20 hours

This represents an 8.1 percent reduction on the previous rate as directed by the industry regulator.

The NERC order takes immediate effect from today.

IE’s Head of Corporate Communications, Kingsley Okotie, confirming the utility’s compliance, said: “We are a compliant Disco; we follow directives given by the regulators, knowing it is in the best interest of all parties. We assure our customers of continued improvement in our service delivery as we strive to give them a better quality of service.”

In a statement released by IE, the utility said: “Dear Esteemed Customers, 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 tariff for Bands B, C, D, and E remains unchanged.”

The previous announcement of the tariff increase on Band A, on April 3, 2024, has been met with criticism by Nigerians.

Last week, the House of Representatives ordered the NERC to reverse the increase.

Source: The Nation