The Port Harcourt Electricity Distribution Company (PHED) has shed light on the recent hike in electricity tariffs for Band A customers, attributing it to the rising cost of conducting business in Nigeria.
Speaking to journalists in Port Harcourt on Monday, PHED’s spokesperson, Olubukola Ilevbare, stated that the tariff adjustment on April 3 was in line with the 2024 Supplementary Multi-Year Tariff Order (MYTO).
Ilevbare clarified that the significant increase, exceeding 200 percent for Band A customers, was a result of the MYTO agreement reached with the Nigerian Electricity Regulatory Company (NERC).
He explained, “The new tariff aims to mitigate the impact of recent changes in key economic indices such as inflation rate, foreign exchange rates, and gas prices. It is intended to facilitate the fulfillment of various obligations across the value chain, which affect operational efficiency and ensure a reliable power supply for customers.”
Under the updated tariff structure, customers on Band A Feeders, who receive a minimum of 20 hours of electricity daily, will now be billed at N225 per kilowatt, according to Ilevbare.
He emphasized that the tariff adjustment would empower PHED to enhance service delivery in order to reflect the increased cost of electricity. Furthermore, Ilevbare assured customers in Bands B, C, D, and E that their tariffs would remain unchanged.
“Our esteemed customers can anticipate better service delivery as a result of the 2024 MYTO implementation,” he concluded.
PHED serves electricity to customers in Akwa Ibom, Bayelsa, Cross River, and Rivers states, underscoring its commitment to providing reliable and efficient power supply amid the evolving economic landscape.
