NERC: Why we approved downward review of electricity tariff for Band A customers

NERC: Why we approved downward review of electricity tariff for Band A customers

The Nigerian Electricity Regulatory Commission, NERC, said it approved the downward reduction of the electricity tariff of Band A customers due to improved exchange rates.

The Commission in a statement issued Monday said it considered changes in the macroeconomic parameters over the preceding month of April 2024.

The statement reads: “Pursuant to the tariff methodology adopted by the Nigerian Electricity Regulatory Commission, a revised tariff order covering the month of May 2024 has been issued by the Commission to the eleven (11) electricity distribution companies.

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“The Commission has considered changes in the macroeconomic parameters over the preceding month of April 2024 and especially the appreciation of exchange rates – consequently the Commission has approved a downward review of end-user tariffs for Band “A” customers from NGN225/kWh to NGN206.8/kWh.

“The Commission reaffirms its commitment to providing a balanced and effective regulatory regime serving the needs of the Nigerian Electricity Supply Industry.”

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NERC: Why we approved downward review of electricity tariff for Band A customers

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