Ibadan Electricity Distribution Company (IBEDC) Plc, on Wednesday, announced an increment in the electricity tariff for its customers on Band A.
Effective from today, customers on Band A would be paying N209.50/kWh, as against the old rate of N206.80/kWh.
The upward review of the electricity tariff was announced in a statement by IBEDC acting Managing Director, Mr Francis Agoha.
The increment was coming against the backdrop of complaints of poor power supply by electricity consumers.
The IBEDC acting Managing Director, however, said the increment was necessitated by several key economic indices.
According to Agoha, the new tariff will mitigate the itemised financial pressures. This was as he also assured of delivery of high-quality electricity services.
These, he said, included fluctuating exchange rate, current inflation rate, available generation capacity and cost of gas.
He stated that the increment is with immediate effect. He added that the tariff will be adjusted from N206.80/kWh to N209.50/kWh.
“This review has been duly approved by the Nigerian Electricity Regulatory Commission (NERC), as captured in the multi-year tariff supplementary order.
“The adjustment is necessitated by several key economic indices. These include fluctuations in the exchange rate, the current inflation rate, available generation capacity and the cost of gas.
“These factors have significantly impacted operational costs. The new tariff will mitigate these financial pressures while continuing to deliver high-quality electricity services.
“It is important to note that this adjustment affects only our Band A customers. The tariffs for Bands B, C, D, and E remain unchanged.
“We remain committed to providing reliable and efficient electricity services to all our customers across different bands.
“We understand that any change in tariffs can be a concern for our customers. We assure you that this adjustment is necessary to maintain and improve the quality of our services.
“Our goal is to ensure that you receive the best possible value for your money,” Mr Agoha stated in the statement.
