IBEDC Announces Tariff Increase for Band A Customers

Kemi Olaitan in Ibadan 

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

The distribution company, which made the disclosure in a statement by its Acting Managing Director, Engr. Francis Agoha, said the tarrif increment which will take immediate effect will be adjusted from N206.80/kWh to N209.50/kWh. 

He added that the review has been approved by the Nigerian Electricity Regulatory Commission (NERC) as captured in the multi-year Tarif supplementary order.

According to him, the adjustment is necessitated by several key economic indices such as fluctuations in the exchange rate, current inflation rate, available generation capacity and cost of gas, stating that the factors have significantly impacted operational costs as the new tariff will mitigate the financial pressures while helping to continue to deliver high-quality electricity services.

Agoha maintained that the adjustment affects only Band A customers, noting that the tariffs for Bands B, C, D, and E remain unchanged. 

He said, “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.”