The Nigerian Electricity Regulatory Commission has released a new tariff order for May 2024, which will see a reduction in electricity rates for consumers. The revised tariff order, which affects all eleven electricity distribution companies in the country, will lower the end-user tariffs for Band “A” customers from NGN225/kWh to NGN206.8/kWh. In response to the NERC’s order, the electricity distribution companies, Abuja, Ikeja, and Ibadan Electricity Distribution Companies, among others, have begun to reduce the tariff accordingly. The new tariff order is a reflection of the NERC’s commitment to its tariff methodology and its responsiveness to changes in the economic landscape. “The statement 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.

Source: Punch May 07, 2024 01:30 UTC