The Port Harcourt Electricity Distribution Company, PHED has explained why tariff was increased for Band A customers.

PHED said the reason was as a result of escalating cost of doing business in the country.

PHED’s spokesman, Olubukola Ilevbare, said this while briefing newsmen in Port Harcourt on Monday, adding that the April 3 price adjustment was in line with the 2024 Supplementary Multi-Year Tariff Order, MYTO.

He said that the more than 200 per cent hike for Band A customers was a result of the MYTO agreement with the Nigerian Electricity Regulatory Company (NERC).

“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,” he stated.

Ilevbare stressed that the adjustment would empower PHED to offer customers improved service to reflect the increased cost of electricity.

“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,” the spokesman assured.

DAILY POST reports that PHED supplies electricity to customers in Akwa Ibom, Bayelsa, Cross River and Rivers states.