Electricity: IBEDC announces tariff hike by N2.70/kWh for Band A customers

By Oluseye Ojo, Ibadan

The Ibadan Electricity Distribution Company (IBEDC) has announced an upward review of electricity tariff for its Band A customers.

The electricity consumers on Band A Line will now pay an additional N2.70kobo per kilowatt-hour (kWh), bringing their total cost to N209.50/kWh from N206.80/kWh.

The Acting Managing Director of the company, Francis Agoha, an engineer, in a statement he personally issued on Wednesday said the adjustment took immediate effect.

Agoha made it known that the review has been duly approved by the Nigerian Electricity Regulatory Commission (NERC), as captured in the multi-year tariff supplementary order.

He added that the price hike, however, is limited to IBEDC’s Band A customers only. He emphasised that consumers in Bands B, C, D, and E would not be affected by the latest increase.

His words: “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.

“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.”