Ibadan Electricity Distribution Company Plc (IBEDC) has announced an upward review of the electricity tariff for Band A customers with immediate effect.

The new tariff, Effective immediately, will be adjusted from N206.80/kWh to N209.50/kWh, according to IBEDC.

The company in a notice on Wednesday, disclosed that the review has been duly approved by the Nigerian Electricity Regulatory Commission (NERC) as captured in the multi-year tariff supplementary order.

The management of IBEDC stressed that 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, according to the Disco, have significantly impacted operational costs, and the new tariff will mitigate these financial pressures while continuing to deliver high-quality electricity services.

In the notice signed by the Acting Managing Director of IBEDC, Francis Agoha, the company noted that “this adjustment affects only Band A customers.

It added that the tariffs for Bands B, C, D, and E remain unchanged.

Agoha further stated that the company remains committed to providing reliable and efficient electricity services to all its 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,” he concluded.