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Nigerians relieved as DisCos backtrack on tariff increase

Just when Nigerians were bracing up for the shock of the electricity tariff increase, as they did for the fuel price hike, the Abuja Electricity Distribution Company (AEDC), has come out to deny any plan to kickstart any increment from July 1 as widely reported.

In a Tweet on Monday, the DisCo asked its customers to ignore any previous communication, that had passed such information as there has been no such approval for an increase from the regulatory body.

His statement read: “Dear Esteemed Customers, Please disregard the communication circulating in the media regarding the review of electricity tariffs. Be informed that no approval for such increments has been received. We regret any inconvenience.”

The announcement for electricity tariff increase had come from Abuja Electricity Distribution Company a few weeks ago. In the statement, for example, the company had said, “Effective July 1, 2023, please be informed that there will be an upward review to the electricity tariff influenced by the fluctuating exchange rate.

“Under the MYTO (Multi Year Tariff Order) 2022 guidelines, the previously set exchange rate of N441/$1 may now be revised to approximately N750/$1 which will have an impact on the tariffs associated with your electricity consumption”.

This backtrack has come as a welcome relief for most Nigerians who had started making plans on how to ration their electricity.

According to a businessman, Tony Ikechukwu who spoke to Newspread, he had already planned to buy at least N20,000 worth of electricity tariff before July 1.

“I am so happy with this news. In fact, I am very relieved. I had planned to buy at least N20,000 worth of electricity before the deadline. I felt I will manage it before I start facing the new bill. Thing are so hard in Nigeria now. My salary is not enough and I must provide for my family. They can’t starve “, he lamented.

Toyosi Hassan, a Lawyer wasn’t far off. She expressed deep excitement.

“You have no idea how much this news means to me. Even though I live alone, I spend a lot on power. The planned increase had made me start thinking about selling some of my electronic devices. I wanted to cut down on power- not withstanding I still would but knowing now that the increment wouldn’t be happening again, I am relieved. The fuel price increase is still bitting. This one would have just killed”, she said.

Meanwhile, sometimes ago, the President of the Nigeria Consumer Protection Network, Kunle Olubiyo, has asked the Federal Government to dispose its 40% hold in the Power Sector. This he said will relieve the monopoly of the current 11 Electricity Distribution Companies.

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