The Nigerian Electricity Regulatory Commission (NERC) has approved an upward price increase in the price of pre-paid electricity meters in the country.
In a circular signed and dated 5 September 2023 by the commission’s Chairman and Commissioner Legal, Licencing and Compliance, Sanusi Garba and Dafe Akpeneye, respectively, it stated that a single phase pre-paid meter would now cost N81,975.16k from the N58,661.69k while three-phase pre-paid meters is increased to N143,836.10k from N109,684.36k.
The circular said the new price was to ensure fair and reasonable pricing of meters to both MAPs and end-user customers.
“Ensure MAP’s ability to recover reasonable costs associated with meter procurement and maintenance while ensuring that their pricing structure allows for a viable return on investment. Evaluate the affordability of meter services for consumers, aiming to prevent excessive pricing that could burden end-users. Ensure that MAPs are able to provide meters to end-use customers in the prevailing economic realities.