The Eko Electricity Distribution Company EKEDC, has announced that beginning from April 1, 2020, electricity tariffs will increase from the current N28.48k to N42.41k per Kilowatt.
The commission made this known on Monday, at the ongoing Stakeholders Forum tagged Extraordinary Tariff Review Applications and Decommissioning of Unistar Meters, in Lagos.
EKEDC revealed that the tariff increase became necessary as a result of four factors chief of which is the N1.7 trillion industry shortfall which is a huge debt affecting the organization negatively and which burden can only be borne by the consumer.
Other reasons given include the fact that the Bi-annual tariff reviews were not implemented for three years between 2016-2019 which has led to significant losses for Eko Disco.
Another is that the current tariff is inconsistent with current Macro economic trends.
The Eko disco stakeholders forum will be running for three days across their various distribution units in the state.