• Wednesday, December 06, 2023
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AEDC makes U-turn, says no approval for electricity tariff increase

Why Nigeria needs public-private partnership to fix power sector

Abuja Electricity Distribution Company (AEDC) has turned back on its decision to implement the increase on electricity tariff by July 1, 2023.

In a Twitter post on Monday the company advised the public to disregard the circulating communication, regarding the review of electricity tariffs.

“Be informed that no approval for such increments has been received. We regret any inconvenience,” it said.

Meanwhile, the company had hinted on an upward review of the electricity tariff which according to the management will be influenced by the fluctuating exchange rate.

“Effective July 1, 2023, please be informed that there will be an upward review to the electricity tariff influenced by the fluctuating exchange rate,” it had said in a statement.

“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.”

Read also: AEDC to increase electricity tariff by July 1, 2023

It stated that 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.

The company also encouraged customers with prepaid meters to consider purchasing bulk energy units before the end of the month as this will allow them take advantage of the current rates and potentially make savings before the new tariffs come into effect.

“For customers with a prepaid meter, we encourage you to consider purchasing bulk