The Ibadan Electricity Distribution Company Plc (IBEDC) has announced an upward review of the electricity tariff for our Band A customers.
The company also disclosed that the upward review of the electricity tariff takes immediately effect.
A statement by Engr. Francis Agoha
IBEDC Ag. Managing Director on Wednesday July 3 indicates that the tariff would be adjusted from N206.80/kWh to N209.50/kWh.
He added that upward review was duly approved by the Nigerian Electricity Regulatory Commission (NERC) as captured in the multi-year Tariff Supplementary Order.
“Effective immediately, the tariff will be adjusted from N206.80/kWh to N209.50/kWh. This review has been duly approved by the Nigerian Electricity Regulatory Commission (NERC) as captured in the multi-year Tarif supplementary order.” He said.
He noted that the adjustment was necessitated by the several economic indices including fluctuations in the exchange rate, current inflation rate, available generation capacity, and the cost of gas among other factors.
While acknowledging the economic implementation of the tariff hike on customers, the company however, noted that the review became necessary in order to improved quality of its services while assuring that the company would continue to explore ways to ensure that electricity consumers enjoy adequate value for their money.
“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 have significantly impacted operational costs, and the new tariff will mitigate these financial pressures while continuing to deliver high-quality electricity services.
“It is important to note that this adjustment affects only our Band A customers. The tariffs for Bands B, C, D, and E remain unchanged. We remain committed to providing reliable and efficient electricity services to all our 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.” Agoha said.