The Ibadan Electricity Distribution Company (IBEDC) has announced an upward review of the electricity tariff for its Band A customers.

This was announced in a statement issued by the IBEDC Acting Managing Director, Francis Agoha, on Wednesday, July 3, 2024.

Agoha said the tariff, effective immediately, would be adjusted from N206.80/kWh to N209.50/kWh

He noted that the review was approved by the Nigerian Electricity Regulatory Commission (NERC) as captured in the multi-year tariff supplementary order.

According to him, the adjustment is necessitated by several key economic indices, including fluctuations in the exchange rate, current inflation rate, available generation capacity, and the cost of gas.

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The IBEDC boss stated: “These factors have significantly impacted operational costs, and 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.”

Agoha said any change in tariff could be a concern for customers, adding that the adjustment was necessary to maintain and improve the quality of services.

“Our goal is to ensure that our customers receive the best possible value for their money,” he noted.

The Star