Electricity tariff hike looms as DisCos prepare for Jan 1 increase

Electricity tariff hike looms as DisCos prepare for Jan 1 increase

Indications suggest that electricity distribution companies (DisCos) in the country are poised to implement a tariff hike starting from January 1.

A reliable source from one of the electricity distribution companies, speaking on the condition of anonymity, confirmed the development, revealing that a virtual emergency meeting solidified the decision.

“All preparations have been finalized for the new tariff to become effective from the first of January, 2024. It is now incumbent upon the various electricity distribution companies to inform their customers about the upcoming changes,” the source disclosed.

The source also mentioned that the National Electricity Regulatory Commission (NERC) had convened a meeting with distribution companies to discuss the impending tariff adjustment.

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Expressing concerns, the source acknowledged that while it is mandatory for electricity distribution companies to regularly assess tariffs every six months, the abruptness of the recent increase might lead to dissatisfaction among customers.

“In fact, we were taken aback by the short notice and are grappling with how to effectively communicate the increase to our customers,” the source admitted.

When asked about the extent of the increase, the source replied, “No idea so far, but the uncertainty has put us in a difficult situation.”

In a separate conversation, another source from the Transmission Company of Nigeria (TCN) informed Daily Trust on Sunday that only the NERC would have information regarding the magnitude of the impending tariff hike. As consumers brace themselves for potential changes, the looming uncertainty adds an additional layer of concern to the energy landscape.

Electricity tariff hike looms as DisCos prepare for Jan 1 increase