The Nigerian Electricity Regulatory Commission (NERC) has approved an increase in the electricity tariff to ₦225 per kilowatt-hour from ₦68. This is a 300 percent hike and takes effect on April 1, 2024.
At a press briefing in Abuja on Wednesday, Musliu Oseni, Vice Chairman of the Nigerian Electricity Regulatory Commission , said the increase will see customers pay ₦225 kilowatts per hour, up from the current ₦66.
He added that the commission had also downgraded some customers on Band A to Band B due to non-fulfilment of the required hours of electricity provided by the electricity distribution company.“We currently have 800 feeders that are categorised as Band A, but it will now be reduced to under 500. This means that 17 per cent now qualify as Band-A feeders. These feeders only service 15 per cent of total electricity customers connected to the feeders.
According to the news agency, “Nigerians will now have to pay $2.42 per one million British thermal units from the previous rate of $2.18 MMBtu.” Data from the Transmission Company of Nigeria indicated that the grid collapsed at about 4:00 pm, and dropped from 2,984 megawatts to zero in an hour, with all 21 plants connected to the grid ceasing operations by 5:00 pm.
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