Federal government increases price of electricity prepaid meters by 50%
The Nigerian Electricity Regulatory Commission (NERC) has approved an upwards price increase in the price of pre paid electricity meters in the country.
In a circular signed and dated September 5, 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 a fair and reasonable pricing of meters to both MAPs and end-use 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.
