NERC hikes price of electricity meters by 40%

By Akinyemi Precious

The Nigerian Electricity Regulatory Commission (NERC) has increased the prices of electricity meters by 40 per cent.

This as approval for the incresss was granted  for an upward adjustment in the prices of prepaid electricity meters within the nation.

The circular containing the approval was signed by the Chairman of NERC, Sanusi Garba, and the NERC Commissioner of Legal, Licensing, and Compliance, Dafe Akpeneye.

The revised prices for prepaid meters according are now; A single-phase prepaid meter which was formerly N58,661.69k will now be priced at N81,975.16k, while the cost of a three-phase prepaid meter which was formerly  N109,684.36k. will now be N143,836.10k.

According to the circular, the hike is to create a meter system that would be favorable to Meter Asset Providers(MAPs) and end -users 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,” the circular read.