The Ibadan Electricity Distribution Company Plc (IBEDC) has announced the downward review of rates for its customers on Bans A.
The review which was disclosed in a public announcement by the management said customers are now to pay N206.80/kwh instead of the initial N225/kwh.
The company said the downward review of the tariff regime approved by the Nigerian Electricity Regulatory Commission (NERC) takes effect from May 4th, 2024.
According to the company, customers using prepaid meters will be the first to experience the revised tariff of N206.80/Kwh whenever they vend in May, while post-paid customers will enjoy the revised tariff in the electricity bills they receive at the end of May 2024.
It added that the tariffs for bands B, C, D, and E remain unchanged.
The notice read: “Please be informed that the Ibadan Electricity Distribution Company Plc (IBEDC) has begun the implementation of a downward review in tariff rate from N225/Kwh to N206.80/Kwh as approved by the Nigerian Electricity Regulatory Commission (NERC) for band A customers only.
“The new tariff is effective from 4th May 2024.
“Customers using prepaid meters will be the first to experience the revised tariff – N206.80/Kwh whenever they vend in May. While for Postpaid customers the revised tariff will be reflected in the electricity bills they receive at the end of May 2024.
“Kindly note the tariffs for bands B, C, D, and E remain unchanged.
“IBEDC is also assuring its customers that we remain unequivocally committed to ensuring quality and improved service across our franchise.”