The Federal Government has announced plans to regularise electricity tariffs in a bid to address disparities in the current billing system as well as encourage investment in the power sector.
The Minister of Power, Adebayo Adelabu, made this known at the ongoing public presentation of the National Integrated Electricity Policy and Nigeria Integrated Resource Plan today in Abuja.
He said the government is considering this option over the slow pace of migration to Band A customers, which he attributed to the reluctance of Distribution Companies to make the necessary investments.
Under the current structure, customers in Band B, who enjoy 18 to 17 hours of electricity supply, pay N63 per kilowatt-hour, while those in Band A, with only two hours more of supply, are charged N209 per kilowatt-hour.
According to him, the government is committed to reviewing the existing tariff structure, although he clarified that the review does not imply an imminent increase in rates.
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