DisCos Mull Fresh Electricity Tariff Hike On Jan 1

Eko Hot Blog reports that Nigeria’s Electricity Distribution Companies (DisCos) are reportedly planning to hike electricity tariffs nationwide with effect from January 1, 2024.

According to report, a virtual emergency meeting was held recently to formalise and perfect the planned tariff increase.

A source in one of the DisCos, who claimed anonymity, confirmed the development to on Sunday.

The source said: “All has been perfected for the new tariff to take effect from the first of January, 2024.

“It is now left for various electricity distribution companies to enlighten their customers on new developments.”

The source said the National Electricity Regulatory Commission (NERC) had already invited distribution companies for a meeting on the development.

He expressed fear that while it is mandatory for electricity distribution companies to regularly evaluate tariffs every six months, the recent increase would meet customers’ dissatisfaction.

“In fact, we were perturbed by the short notice and how we would reach out to our customers about the increase,” he said.

Asked how much the increase would be, the source said, “No idea so far, but the uncertainty has put us in a difficult situation.”

Recall that in November 2023, President Bola Ahmed Tinubu stopped the implementation of the electricity tariff, insisting on a power sector subsidy.

Speaking on Tinubu’s directive on electricity tariff hikes, the Minister of Power, Adebayo Adelabu, said, “The power sector is an industry that is very sensitive to any leader.

“You cannot jump overnight and implement the cost-reflective tariff. I can tell you that till today, the government still subsidies power”.

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