IBEDC announces minor electricity price increase for Band A customers

Ibadan Electricity Distribution Company (IBEDC) Plc announced a slight increase in electricity tariffs for Band A customers, effective immediately. The new rate for Band A is N209.50 per kilowatt-hour (kWh), up from N206.80 kWh.

The Nigerian Electricity Regulatory Commission (NERC) approved the adjustment.

IBEDC clarifies the change

A statement signed by IBEDC acting Managing Director, Francis Agoha, emphasized that only Band A customers are affected.

Tariffs for Bands B, C, D, and E remain unchanged.

The company cited several factors necessitating the adjustment, including currency exchange rate fluctuations, inflation, power generation capacity limitations, and gas costs.

These factors, according to IBEDC, have significantly increased operational costs.

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The company claims the new tariff will help mitigate these financial pressures while maintaining and even improving the quality of service for Band A customers.

IBEDC reiterated its commitment to providing reliable and efficient electricity across all customer bands.

The statement acknowledges that any price change can be a concern, but assures customers that the adjustment is necessary to ensure continued quality service and value for their money.