Electricity tariff set to rise from January 1 

 

Nigerians may be greeted with an increase in electricity tariff in the New Year, according to a report by Daily Trust. 

According to the report, there are strong indications that the electricity distribution companies (DisCos) in the country will hike their tariffs with effect from January 1. 

The report quoted an official source from one of the electricity distribution companies who said a virtual emergency meeting was held in that regard.

“All has been perfected for the new tariff to take effect from the first of January, 2024.

“It is now left for various electricity distribution companies to enlighten their customers on new developments,” the source said.

He said the National Electricity Regulatory Commission (NERC) had already invited distribution companies for a meeting on the development.

He expressed fear that while it is mandatory for electricity distribution companies to regularly evaluate tariffs every six months, the recent increase would meet customers’ dissatisfaction.

“In fact, we were perturbed by the short notice and how we would reach out to our customers about the increase,” he said.

Asked how much the increase would be, he said, “No idea so far, but the uncertainty has put us in a difficult situation.”

The report also quoted another source from the TCN who said that only the NERC would have an idea of how much the increase would be.