MON MAY 06 2024-theGBJournal| The Nigerian Electricity Regulatory Commission (NERC) Monday reviewed Band A end-user tariffs downward from N225/kWh to N206.8/kWh, under multi-year tariff order (MYTO) 2024.
And pursuant to the tariff methodology adopted by the NERC, a revised tariff order covering the month of May 2024 has been issued by the Commission to the eleven electricity distribution companies.
In other words the eleven electricity distribution companies will have to drop their tariffs in line with NERC benchmark as long as it is necessary.
The regulator said the review is ”largely driven by the appreciation of the Naira in the official foreign exchange window.”
The downward review takes effect from May 6, 2024.
Recall that NERC gave the green light to distribution companies to raise electricity tariff last month to N225/KWh, up from N66 for customers.
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