The Ibadan Electricity Distribution Company Plc (IBEDC) has recently announced an upward review of the electricity tariff for Band A customers. The Acting Managing Director, Francis Agoha, explained that the Nigerian Electricity Regulatory Commission (NERC) has approved the tariff increase from N206.80/kWh to N209.50/kWh for users in this category. The adjustment is attributed to various economic factors, including exchange rate fluctuations, inflation, generation capacity, and the cost of gas.
Tariff Adjustment Details
According to the public notice signed by Francis Agoha, the tariff adjustment for Band A customers will be effective immediately. The new rate of N209.50/kWh has been approved by the NERC and is in line with the multi-year tariff supplementary order. It is important to note that this adjustment only applies to Band A customers, while the tariffs for Bands B, C, D, and E remain unchanged.
Reasons for the Tariff Adjustment
The decision to revise the electricity tariff for Band A customers is driven by several key economic factors. Fluctuations in the exchange rate, the current inflation rate, available generation capacity, and the cost of gas have significantly impacted IBEDC’s operational costs. These factors have created financial pressures that need to be mitigated. The tariff adjustment is aimed at addressing these challenges while ensuring the continued delivery of high-quality electricity services.
Commitment to Customers
IBEDC remains committed to providing reliable and efficient electricity services to all their customers across different bands. The company acknowledges that any change in tariffs can be a concern for customers. However, they assure customers that this adjustment is necessary to maintain and improve the quality of services provided. The goal is to ensure that customers receive the best possible value for their money.
The upward tariff adjustment for Band A customers by IBEDC is a response to various economic factors that have impacted the company’s operational costs. The NERC’s approval of the revised tariff aims to mitigate financial pressures while ensuring the continued provision of high-quality electricity services. It is important to note that this adjustment only affects Band A customers, while the tariffs for Bands B, C, D, and E remain unchanged. IBEDC remains committed to delivering reliable and efficient electricity services to all their customers, and they strive to provide the best possible value for their customers’ money.
