The Port Harcourt Electricity Distribution Company (PHED) said the upward review of tariff for Band A customers by 200 per cent was due to the spike in cost of operation.
The PHED spokesperson, Olubukola Ilevbare, offered the explanation on Monday.
Recall that Discos announced a price adjustment on April 3, 2024.
Ilevbare said the review was in line with the 2024 Supplementary Multi-Year Tariff Order, adding that the Nigerian Electricity Regulatory Company (NERC) authorised the review.
He said, “The new tariff is designed to mitigate the impact of recent changes in key economic indices like inflation rate, foreign exchange rates, and gas prices.
“It is intended to enhance the fulfilment of various obligations across the value chain which impact operational efficiency and ensure a reliable power supply for customers.
“Under the new tariff structure, customers on Band A Feeders, receiving a minimum of 20 hours of electricity daily, will now be billed at N225 per kilowatt.”
According to the PHED spokesman, proceeds of the review would be invested in the provision of quality service for customers.
“PHED is committed to fully complying with the objectives of the new tariff order, and customers Bands B, C, D and E can be reassured that their tariffs remain unchanged.
“Our esteemed customers can anticipate better service delivery as a result of the 2024 MYTO implementation,” he added.