FG increases price of electricity meters across the country

The Nigerian Electricity Regulatory Commission (NERC) has granted approval for an upward adjustment in the prices of prepaid electricity meters within the country. According to a circular dated September 5 and signed by NERC’s Chairman, Sanusi Garba, and Commissioner for Legal, Licensing, and Compliance, Dafe Akpeneye, the revised pricing specifies that a single-phase prepaid meter will now cost N81,975.16k, up from the previous price of N58,661.69k, while a three-phase prepaid meter will be priced at N143,836.10k, as opposed to the prior cost of N109,684.36k.

The circular explained that the new pricing structure aims to establish a fair and equitable pricing framework for meters, benefiting both Meter Asset Providers (MAPs) and end-users.

“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 partly reads