There was confusion Monday as the Abuja Electricity Distribution Company (AEDC) backed down on the planned upward review of tariff.
The company said it was no longer possible as it had not gotten approval from the Nigeria Electricity Regulatory Commission (NERC).
This is just as the Manufacturers Association of Nigeria (MAN) says it spent the sum of N124.5 billion on alternate power sources in 2022.
According to AEDC in a statement Monday afternoon, without an approval from the regulator, it would not be able to carry out the increase.
The distribution company appealed to its customers to disregard reports of planned tariff increase.
The statement by the electricity distribution company’s management read: “Please disregard the circulating communication, regarding review of electricity tariffs.
“Be informed that no approval for such increments has been received. We regret any inconvenience.”
However, in an earlier statement Sunday, AEDC had said that there would be an upward review of electricity tariff from July 1.
“Effective July 1, 2023, please be informed that there will be an upward review to the electricity tariff influenced by the fluctuating exchange rate.
“Under the MYTO 2022 guidelines, the previously set exchange rate of N441/1 dollar may now be revised to approximately N750/1 dollar which will have an impact on the tariffs associated with your electricity consumption.
“For customers within band B and C, with supply hours ranging from 12 to 16 per day, the new base tariff is expected to be N100 per Kilowatts per hour (KWh).
“While Bands A with (20 hours and above) and B (16 to 20 hours) will experience comparatively higher tariffs, ‘’ it said.
The company encouraged customers with prepaid meters to consider purchasing bulk energy units before the end of June as this would allow them to take advantage of the current rates and
make savings before the new tariffs came into effect.
AEDC said that for those on post-paid (estimated) billing, a significant increment is imminent in their monthly billing, starting from August.
Meanwhile, the president of MAN said manufacturers in the country spent the sum of N124.5 billion on alternative sources of power in 2022.
Fielding questions from the AriseTv panel of interviewers on its Breakfast show on Monday, MAN President, Otunba Francis Meshioye, said the figure represents a sharp rise in the N77.2 billion spent in 2021 for alternative power.
According to Meshioye, this situation affected their return on investment and also the tax payable to the government.