Power distribution companies, on Sunday night, confirmed and insisted that the tariffs payable by electricity consumers across the country would increase from July 1, 2023, despite the opposition of the Nigeria Labour Congress.
On Friday, NLC, Discos and the Nigerian Electricity Regulatory Commission were heading for a collision course over the planned hike in the tariffs payable by electricity consumers nationwide.
NLC President, Joe Ajaero, had said “the plan to increase electricity tariff by 40 per cent by July 1 was both insensitive and callous and reflects an organised indifference to the wellbeing of consumers, especially, the poor ones,” and warned against the move by Discos.
But in different notices to their customers seen by our correspondent on Sunday night, the Discos announced that electricity tariffs would increase from July 1, 2023, as they provided reasons for this.
“Under the MYTO (Multi Year Tariff Order) 2022 guidelines, the previously set exchange rate of N441/$1 may now be revised to approximately N750/$1 which will have an impact on the tariffs associated with your electricity consumption.
“For customers within bands B and C, with supply hours ranging from 12 to 16 per day, the new base tariff is expected to be N100 per kWh while Bands A with (20 hours and above) and B (16 to 20 hours) will experience comparatively higher tariffs.”
The power firm stated that “for customers, with a prepaid meter, we encourage you to consider purchasing bulk energy units before the end of this month as this will allow you take advantage of the current rates and potentially make savings before the new tariffs come into effect.”
It added that “for those on post-paid (estimated) billing, a significant increment is imminent in your monthly billing, starting from August.”
Also confirming the hike, the Ikeja Electricity Distribution Company said, “Dear customers, electricity tariffs are set to go higher on July 1st due to the floating exchange rate.
“MYTO 2022 set the exchange rate at N441/$1, which may now be adjusted to about N750/$1.We may be looking at a base tariff of N100 per kWh for Band C (12 – 16 supply hours per day).
“Bands A (20 hours and above) & B (16 – 20 hours) will be much higher. If you have a prepaid meter, buying bulk energy units for your home or office before the end of the month may help you make some savings before you have to buy at the new rate.”
It stated that for those on post-paid (estimated) billing, a significant increment was imminent in your monthly billing, starting from August.