By Tony Obiechina, Abuja
The Nigerian Electricity Regulatory Commission, NERC has announced a 300 percent increase in the tariff payable by electricity customers on Band A classification.
NERC Vice Chairman, Musliu Oseni, who made the announcement at a press conference in Abuja on Wednesday said the over 300% increase will see the customers pay N225 per kilowatt hour from the current N66.
Oseni said customers under the Band A classification represent 15% of the 12 million electricity customers in the country. He added that the commission has also downgraded some customers on the Band A to Band B due to non-fulfilment of the required hours of electricity provided by the distribution companies.
“We currently have 800 feeders that are categorised as Band A, but it will now be reduced to under 500. This means that 17% now qualify as Band A feeders. These feeders only service 15% of total electricity customers connected to the feeders.
“The Commission has issued an order which is titled April supplementary order and the Commission allows a 235 kilowatt per hour.”
Accordingly, power distribution companies, DisCos will be allowed to raise electricity prices to N225 ($0.15) per kilowatt-hour from N68 for urban consumers this month effectively from April 1, 2024″, he said.
Recall that the Multi-Year Tariff Order, MYTO released by NERC in January 2024 for the electricity distribution companies was calculated based on the previous price of natural gas over their operating costs.
