Nigeria’s electricity consumers should be prepared to pay as much as between N100 to N300 per kilowatt hour from about N40k/h as distribution companies have confirmed their readiness to roll out a new tariff on July 1, 2023.
With unification and devaluation of the Naira, electricity Tariff rates are now to be floated based on Market driven.
At the moment, band C that presently paid about N40 Per Kilowatts Hour may be increased to about N100 Per Kilowatts Hour while Band A that pays about N56 Naira Per Kilowatts Hour may jerked up to about N150 Per Kilowatts Hour.
“What it means technical speaking is that Electricity Tariff rates is now is going to be floated and it will be Market driven as Naira / Dollars Exchange rates will now be subjected to a Free Market Free falls”
ENERGY TIMES reports that some electricity distribution companies such as Ibadan Electric, Ikeja Electric, Abuja Electric have issued notices to their customers, urging them to load their meters ahead of implementation of the new rates.
