It’s Fake News – Ikeja Electric Denies Plan To Increase Electricity Tarrif

The Ikeja Electricity Distribution Company (IKEDC) has told customers and the general public to disregard reports that it will increase electricity tariffs for its customers by July 1, 2023.

The company made the denial in a statement published on its website on Monday.

Naija News recalls some earlier reports had claimed that electricity distribution companies will increase their tariffs from July 1, 2023 as a result of the fluctuation of the naira in the exchange rate market.

The claim had read: “Dear Customers, electricity tariffs are set to go higher on July 1st due to the floating exchange rate. MYTO 2022 set the exchange rate at N441/$1, which may now be adjusted to about N750/$1. We may be looking at a base tariff of N100 per kWh for Band C (12 – 16 supply hours per day).

“Bands A (20 hours and above) and B (16–20 hours) will be much higher. If you have a prepaid metre, buying bulk energy units for your home or office before the end of the month may help you make some savings before you have to buy at the new rate.

“For those on post-paid (estimated) billing, a significant increment is imminent in your monthly billing, starting in August. Please take note. Electricity units are set to jump by 30-40% in just over a week. You are best advised to buy as many units as you can before July 1.”

However, the electricity distribution company while reacting, described the reports of an imminent increase as fake news.

The statement read, “Public Notice: Avoid Fake News. Dear Esteemed Customer, if the information is not from or on any of our social media handles, then it is not true.”