Ibadan Electricity Distribution Company Plc, on Wednesday, announced an upward review of the electricity tariff for our Band A customers.

According to a statement signed by its Acting Managing Director, Engr. Francis Agoha, effective immediately, the tariff will be adjusted from N206.80/kWh to N209.50/kWh.

Agoha said the review has been duly approved by the Nigerian Electricity Regulatory Commission (NERC) as captured in the multi-year Tariff supplementary order.

The managing director said the upward review was necessitated by several key economic indices, including fluctuations in the exchange rate, inflation and others.

Agoha said: “The adjustment is necessitated by several key economic indices, including fluctuations in the exchange rate, the current inflation rate, available generation capacity, and the cost of gas. These factors have significantly impacted operational costs, and the new tariff will mitigate these financial pressures while continuing to deliver high-quality electricity services.

“It is important to note that this adjustment affects only our Band A customers. The tariffs for Bands B, C, D, and E remain unchanged. We remain committed to providing reliable and efficient electricity services to all our customers across different bands.

“We understand that any change in tariffs can be a concern for our customers, and we assure you that this adjustment is necessary to maintain and improve the quality of our services. Our goal is to ensure that you receive the best possible value for your money”.