Abuja Electricity Distribution Company (AEDC), says power consumers in residential R2 category in Abuja, Kogi, Nasarawa and Niger states will pay an average increase of 35 per cent in electricity tariff beginning from April 1, 2020.
According to the Company, the implementation of this adjusted rate would further boost the provision of power to households and businesses under its franchise areas.
AEDC’s Managing Director, Ernest Mupwaya, said this at an interactive session with the media in Abuja.
He said the new rate would guarantee sufficient power supply, metering, massive investments in the network and improve service to customers.
Mupwaya further stated that once the rates took effect, the support of government on tariff would drop from 54 per cent to 29 per cent, leaving 71 per cent for customers.
He further stated that out of the 100 per cent expected revenue collection from customers, AEDC kept only 25 per cent of the total revenue collected.
The AEDC boss added that out of the 100 per cent expected revenue from customers, 60 per cent often went to gas suppliers and generation companies.
He said, 15 per cent goes to the Transmission Company of Nigeria, System and Market Operators and Nigeria Bulk Electricity Trading company, while 25 per cent goes to Discos.
The Director, said AEDC needed a total of N43.02bn investment in its network to guarantee stable and reliable power supply to its customers.