In a recent update, Electricity Distribution Companies (DisCos) in Nigeria have unveiled plans to raise electricity tariffs, commencing January 1, 2024. A confidential source from one of these distribution companies confirmed the decision, revealing that a virtual emergency meeting had been convened to finalize the details.
The source, speaking on the condition of anonymity, disclosed that all preparations for the tariff adjustment had been completed, ensuring that the new rates would be in effect from the beginning of the new year. The responsibility to inform customers about these imminent changes now lies with the individual electricity distribution companies.
Highlighting the proactive steps taken, the source noted that the National Electricity Regulatory Commission (NERC) had already summoned distribution companies for a meeting to discuss the upcoming tariff increase.
Expressing apprehension, the source acknowledged the mandatory six-monthly tariff evaluations but voiced concerns about potential dissatisfaction among customers due to the abrupt hike. The short notice has created worries about effectively communicating the increase to customers, presenting a challenging situation.
When pressed for details on the extent of the increase, the source admitted to a lack of concrete information, citing the prevailing uncertainty as a significant challenge faced by the distribution companies.
