Ibadan Electricity Distribution Company Plc ( IBEDC) has announced an upward review of the electricity tariff for Band A customers with immediate effect.
According to IBEDC, the new tariff would go into effect immediately, increasing the rate from N206.80/kWh to N209.50 per kWh.
The corporation stated that the review was accepted by the Nigerian Electricity Regulatory Commission (NERC), as evidenced by the multi-year pricing supplemental order.
The management of IBEDC stressed that the adjustment is necessitated by several key economic indices, including fluctuations in the exchange rate, the current inflation rate, available generation capacity, and the cost of gas.
These factors, according to the Disco, have significantly impacted operational costs, and the new tariff will mitigate these financial pressures while continuing to deliver high-quality electricity services.
In a notice signed by the Acting Managing Director, IBEDC, Francis Agoha, the company noted that “this adjustment affects only Band A customers.
It added that the tariffs for Bands B, C, D, and E remain unchanged.
Agoha further stated that the company remains committed to providing reliable and efficient electricity services to all its customers across different bands.
“We understand that any change in tariffs can be a concern for our customers, and we assure you that this adjustment is necessary to maintain and improve the quality of our services. Our goal is to ensure that you receive the best possible value for your money,” he concluded.