Electricity Tariff For Band “A” Customers Has Been Reduced – NERC

The Nigerian Electricity Regulatory Commission has come out to release a new tariff order for May 2024.

The tariff will see a reduction in electricity rates for consumers, and Nigerians have been reacting.

According to the company, the end-user tariffs for Band “A” customers has been lowered from NGN225/kWh to NGN206.8/kWh, and the decision comes after a thorough review of the macroeconomic parameters and exchange rate appreciations.

NERC added that the commission reaffirms its commitment to providing a balanced and effective regulatory regime serving the needs of the Nigerian Electricity Supply Industry.

It read, “Pursuant to the tariff methodology adopted by the Nigerian Electricity Regulatory Commission, a revised tariff order covering the month of May 2024 has been issued by the Commission to the eleven (11) electricity distribution companies.

The Commission has considered changes in the macroeconomic parameters over the preceding month of April 2024 and especially the appreciation of exchange rates – consequently, the Commission has approved a downward review of end-user tariffs for Band “A” customers from NGN225/kWh to NGN206.8/kWh.

The Commission reaffirms its commitment to providing a balanced and effective regulatory regime serving the needs of the Nigerian Electricity Supply Industry.”

WOW.