The Nigerian Electricity Regulatory Commission had approved a cost of N225/kWh, but the Ikeja Electricity Distribution Company has reduced this amount to N206.80 per kilowatt-hour for its Band A consumers.
Olufadeke Omo-Omorodion, the IKEDC spokeswoman, informed our correspondent of this in a notice on Monday.
According to the notice, the downward tariff review of the Band A customers would take effect from Monday, May 6, 2024.
The DisCo, while guaranteeing a minimum of 20-hour daily power supply for those on Band A feeders, noted that the tariffs of customers on other bands remain unchanged.
“Dear Esteemed Customers, please be informed of the downward tariff review of our Band A feeders from N225/kWh to N206.80/kWh effective 6th May 2024 with guaranteed availability of 20-24hrs supply daily.
“The tariff for Bands B, C, D, and E remains unchanged,” the IKEDC stated.
The PUNCH recalls that on April 3, the NERC revised the electricity tariff for Band A customers from N68 per kilowatt-hour to N255/KWh, saying other customers were not affected by the tariff hike.
Since the release of the supplementary Multi-Year Tariff Order, consumers categorised as Band A have been groaning that the rise in electricity tariffs weighs heavily on their finances, calling on the Federal Government to reverse the policy.
However, while appearing before the Senate Committee on Power at an investigative hearing over the tariff hike last week Monday, the Minister of Power, Adebayo Adelabu, warned that there would be a total blackout in the country in the next three months if the electricity tariff hike was not implemented.