NERC Explains Decision To Lower Electricity Rates For Band A Consumers

NERC Explains Decision To Lower Electricity Rates For Band A Consumers

NERC has affirmed its authorization for Electricity Distribution Companies (Discos) to implement a reduction in the tariff for customers on Band A, according to a statement released via its website on Monday.

The Commission stated that it approved the decrease in electricity tariff for affected customers due to the appreciation of the Naira in the foreign exchange market.

As previously reported, the eleven Discos in the nation slashed the tariff for Band A customers from 225/kWh to 206.8/kWh, marking an approximate 8.1% reduction.

NERC’s statement on the matter reads: “Following the tariff methodology adopted by the Nigerian Electricity Regulatory Commission, a revised tariff order for the month of May 2024 has been issued to the eleven electricity distribution companies.”

“The Commission has taken into account changes in macroeconomic parameters, particularly the appreciation of exchange rates. Consequently, the Commission has approved a downward revision of end-user tariffs for Band A customers from NGN225/kWh to NGN206.8/kWh.”

“The Commission reaffirms its dedication to providing a fair and efficient regulatory framework that serves the needs of the Nigerian Electricity Supply Industry

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