The Nigerian Electricity Regulatory Commission has released a new tariff order for May 2024, which will see a reduction in electricity rates for consumers.<\/p>\n
NERC said this decision comes after a thorough review of the macroeconomic parameters and exchange rate appreciations.<\/p>\n
It disclosed this in a statement signed by its management on Monday.<\/p>\n
This is coming after the Nigeria Labour Congress and Trade Union Congress threatened to shut down their operations in the country should the federal government insist on the tariff increment.<\/p>\n
Pointblanknews.com reported earlier that the federal government insisted on the tariff increment stating that the burden of electricity subsidy was too much for the government to bear. Meanwhile, the NLC threatened a shutdown.<\/p>\n
The revised tariff order, which affects all eleven electricity distribution companies in the country, will lower the end-user tariffs for Band \u201cA\u201d customers from NGN225\/kWh to NGN206.8\/kWh. This change is expected to provide some relief to consumers who have been grappling with high energy costs.<\/p>\n
In response to the NERC\u2019s order, the electricity distribution companies, Abuja, Ikeja, and Ibadan Electricity Distribution Companies, among others, have begun to reduce the tariff accordingly.<\/p>\n
The new tariff order is a reflection of the NERC\u2019s commitment to its tariff methodology and its responsiveness to changes in the economic landscape. It is anticipated that this move will be well-received by the public and contribute positively to the Nigerian economy.<\/p>\n
For more information, consumers are encouraged to contact their local electricity distribution company or visit the NERC\u2019s official website.<\/p>\n
\u201cThe statement read, \u201cPursuant 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.<\/p>\n
\u201cThe Commission has considered changes in the macroeconomic parameters over the preceding month of April 2024 and especially the appreciation of exchange rates \u2013 consequently, the Commission has approved a downward review of end-user tariffs for Band \u201cA\u201d customers from NGN225\/kWh to NGN206.8\/kWh.<\/p>\n
\u201cThe Commission reaffirms its commitment to providing a balanced and effective regulatory regime serving the needs of the Nigerian Electricity Supply Industry.\u201d<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
The Nigerian Electricity Regulatory Commission has released a new tariff order for May 2024, which will see a reduction in electricity rates for consumers. NERC said this decision comes after…<\/p>\n","protected":false},"author":1,"featured_media":108738,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-111783","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\n