Seven states and 22 business hubs under the Ibadan Electricity Distribution Company (IBEDC) would get new tarrif as the IBEDC begins the implementation of the tariff review from July 1.
The Chief Operating Officer of the IBEDC, John Ayodele, said that the review was in line with current economic realities and needed for the financial sustainability of the company in the power sector.
”The objective of the review is to ensure that IBEDC adjusts its tariff in line with the economic realities. This is required to meet the new Performance Improvement Plans (PIP) for Electricity Distribution Companies in Nigeria, as well as to achieve financial and fiscal sustainability in Nigeria power sector.
“In order to provide more efficient and reliable service to customers, cost-reflective tariffs are required to cover the cost of critical investment in infrastructures and other parameters necessary for improved service delivery. This new tarrif design is based on quality of power supplied as customers will only pay based on the availability of supply,” Ayodele said
The IBEDC said those who enjoy more hours of power supply would pay more, while those who do not have regular power supply would pay less.
“For example, the tarrif design is based on the service delivery, such that those receiving 20hrs supply daily will pay more than those getting 10hrs,” Ayodele said.
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