The Nigerian Electricity Regulatory Commission (NERC) has approved an increase in electricity tariff paid by Band A customers from N68/KWh to N225KWh.
Band A are those customers who enjoy electricity supply for 20 hours per day.
The Vice Chairman of the Nigerian Electricity Regulatory Commission (NERC) Mr. Musliu Oseni, said this at a news conference on Wednesday in Abuja.
Oseni said these customers represent 15 percent of the 12 million electricity customers across the country.
He said the commission had also downgraded some customers from Band A to Band C.
Oseni said that this was due to the non-fulfillment of the required hours of electricity provided by the Electricity Distribution Companies (DisCos).
The same principle applies to electricity, it has a price that represents the cost of making electricity available to customers when for example, a light switch is flicked on.
This price is called the electricity tariff, and in Nigeria, is determined by the Nigerian Electricity Regulatory Commission (NERC).
The Nigerian Electricity Regulatory Commission is an independent body, established by the Electric Power Sector Reform Act of 2005 (repealed), now the Electricity Act of 2023 to undertake technical and economic regulation of the Nigerian Electricity Supply Industry.
The Commission is to, among others license operators, determine operating codes and standards, establish customer rights and obligations, and set cost-reflective industry tariffs.
The Commission has its headquarters in Abuja and currently has a presence in most states of the country through its Forum Offices which function as the first level of escalation for customer complaints that are not resolved by the electricity distribution companies (DisCos).
NAN
