Electricity Distribution Companies (DisCos) have alerted their customers of the plan to increase electricity tariff by 30-40 percent from July 1, 2023.
Eko Electricity Distribution Company (EKDC), Abuja Electricity Distribution Company (AEDC), Ikeja Electricity Distribution Company (IKDC) and others announced the development in their separate press statements on Sunday, June 25, 2023.
The DisCos attributed the plan increment to fluctuating exchange rate in the country.
The statement said, “Dear Valued Customers, Effective July 1st 2023, please be informed that there will be an upward review to the electricity tariff influenced by the fluctuating exchange rate.
“Under the MYTO 2022 guidelines, the previously set exchange rate of N441/$1 may now be revised to approximately N750/$1 which will have an impact on the tariffs associated with your electricity consumption.
“For customers within band B and C, with supply hours ranging from 12 to 16 per day, the new base tariff is expected to be N100 per kWh while Bands A with (20 hours and above) and B (16 to 20 hours) will experience comparatively higher tariffs.
“For customers with a prepaid meter, we encourage you to consider purchasing bulk energy units before the end of this month as this will allow you take advantage of the current rates and potentially make savings before the new tariffs come into effect.
“For those on post-paid (estimated) billing, a significant increment is imminent in your monthly billing, starting from August”, the statement.