The Nigeria Labour Congress stand-off against the electricity tariff inflation seems to change nothing as the Power distribution companies on Sunday night insisted that the tariffs payable by electricity consumers across the country would increase from July 1, 2023.
Preceding reports in the past week has suggested that Discos, The Nigerian Electricity Regulatory Commission and Nigeria Labour Congress could be up for a collision over the planned hike in the tariffs payable by electricity consumers nationwide.
Punch however reportedly holds that in different notices to customers, the Discos announced that electricity tariffs would increase from July 1, 2023, as they provided reasons for this.
In a public service announcement from the Abuja Electricity Distribution Company, the AEDC said, “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 (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.”
It added that “for those on post-paid (estimated), billing; a significant increment is imminent for 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.
“Please take note: Electricity units are set to jump by 30 to 40 per cent in just over a week. You are best advised to buy as many units as you can before July 1”, not to avoid the increment, but to stock-up units at the present price, as against buying at the July 1 and beyond at 30-40% hike.