The Nigerian Electricity Regulatory Commission (NERC) has reduced the exchange rate for calculating the current electricity tariff for Band A customers by 16.03%, from N1,463.3/$ to N1,277.8 from May to December 2024. This is revealed in the commission’s Multi Year Tariff order (MYTO) for May to December 2024 released recently. The NERC MYTO was reviewed following the appreciation of the naira in the foreign exchange market in the last one month. Following statements by various electricity distribution companies on the reduction of electricity tariff for Band A customers on Monday,…
Read MoreNERC Slashes News Tariff FX Rate Calculation By 16.03%
