An increase in the electricity cost for users classified as Band A has been approved by the Nigerian Electricity Regulatory Commission.
Musliu Oseni, the Vice Chairman of NERC, announced that customers will henceforth pay N225 kilowatt per hour instead of the present N66.
According to PUNCH Online, consumers in Band A are those who receive 20 hours of electricity every day.
During a news conference on Wednesday in Abuja, Oseni stated that 15% of the 12 million energy users in the nation are consumers in Band A. approximately 800 feeders that fall into the Band A category; however, that number will soon drop to less than 500.
This implies that 17% of them are now eligible to be Band A feeders. Only 15% of all electricity users linked to the feeders are served by these feeders.
"The commission has authorized a 225 kilowatt per hour through an order titled 'April Supplementary Order.'"
He continued by saying that certain Band A customers had also been demoted by the commission to Band B because they had not used the electricity supplied by the electrical distribution firm for the required number of hours.
He declared, "At this time, we He clarified that the review won't have an impact on fans of the other bands.
Power providers will be able to increase the price of electricity for urban consumers from N68 to N200 ($0.15) per kilowatt-hour, according to a story published by Bloomberg on Tuesday, citing sources.
According to some in the administration who are aware of the situation, this is an attempt to draw in fresh capital and reduce the approximately $2.3 billion that was previously allocated for tariff caps.
"Nigerians will now have to pay $2.42 per one million British thermal units from the previous rate of $2.18 MMBtu," the news agency reported.
The news coincides with the Nigerian Midstream and Downstream Petroleum Regulatory Authority's revelation on Monday that the cost of natural gas, which is used to produce more more than 70% of Nigeria's electricity.
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