The Nigerian Electricity Regulatory Commission (NERC) has ordered the downward review of electricity tariff for Band A customers to N206.80 per kilowatt-hour from the N225/kWh effective from May 6th 2024.
NERC Issues the 2024 Tariff Order to Electricity Distribution Company in Nigeria.
In a statement by the Commission, the electricity market operator said the development was due to the appreciation of the naira in the official exchange window.
“Effective from May 6, 2024, Band A end-user tariffs have been reviewed to NGN206.8/ kWh under MYTO 2024. This is largely driven by the relative appreciation of exchange rate in the official foreign exchange window”.
The Commission also reaffirms its commitment to providing a balanced and effective regulatory regime serving the needs of the Nigerian Electricity Supply Industry.
Recalled that on 30th April 2024, the Nigerian Electricity Regulatory Commission, (NERC) approved an increase in electricity tariff for customers under the Band A category to N225 per kwh from N66.
Olusola Akintonde
