Ikeja Electric has announced a reduction in electricity tariffs for customers on the Band A feeders, effective May 6.
This announcement can be found on the company’s website https://www.ikejaelectric.com and comes just one month after the company raised rates for these feeders to N225/kwh on April 4th, 2024, as part of a shift towards a cost-reflective tariff system.
The new rate is N206.80/kwh, representing a decrease of over N18 per kilowatt-hour.
Ikeja Electric assures customers that the reduction will not affect the guaranteed daily power supply of 20-24 hours currently enjoyed by Band A customers. Rates for Bands B, C, D, and E remain unchanged.
The reason behind this sudden reversal is unclear. Ikeja Electric has not yet provided a public statement explaining the decision. This development is likely to be welcomed by residents on Band A feeders who faced a significant hike in electricity costs just last month. It remains to be seen if this is a one-time adjustment or a sign of future fluctuations in the tariff system.