DisCos To Hike Electricity Tariffs Jan 1

By Babatunde Solanke

It has emerged that the electricity distribution companies (DisCos) in the country is set to hike their tariffs with effect from January 1, Daily Trust on line reports.

An official source from one of the electricity distribution companies who confirmed the development under the condition of anonymity said a virtual emergency meeting was held in that regard.

“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.

He 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, he said, “No idea so far, but the uncertainty has put us in a difficult situation.”

When contacted, another source from the TCN told Daily Trust on Sunday that only the NERC would have an idea of how much the increase would be.