Reports had earlier emerged that the distribution company AEDC will be increasing tariffs due to the fluctuation of the naira in the exchange rate market.
However, in a public announcement made by the management on its official Twitter handle on Monday, AEDC stated that no approval for such an increment has been received.
PUBLIC SERVICE ANNOUNCEMENT
“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.”
AEDC had earlier in a statement released online, said there would be an upward review of electricity tariff from July 1.
According to the statement, the tariff increase is influenced by the fluctuating exchange rate.
“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 2022 guidelines, the previously set exchange rate of N441/1 dollar may now be revised to approximately N750/1 dollar which will have an impact on the tariffs associated with your electricity consumption.
“For customers within band B and C, with supply hours ranging from 12 to 16 per day, the new base tariff is expected to be N100 per Kilowatts per hour (KWh).
“ While Bands A with (20 hours and above) and B (16 to 20 hours) will experience comparatively higher tariffs, ‘’it said.