Ibadan Electricity Distribution Company Plc has increased the electricity tariffs for Band A customers.

In a public notice on Wednesday, the Acting Managing Director of IBEDC, Francis Agoha, stated that the Nigerian Electricity Regulatory Commission has approved the tariff increase from N206.80/kWh to N209.50/kWh for users in the category.

Agoha expressed that the tariffs for Bands B, C, D, and E remain unchanged.

According to the statement, “Effective immediately, the tariff will be adjusted from N206.80/kWh to N209.50/kWh. This review has been duly approved by the Nigerian Electricity Regulatory Commission (NERC) as captured in the multi-year tariff supplementary order.

“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.”