The Nigerian Electricity Regulatory Commission (NERC) has given its nod to an increased adjustment in the prices of prepaid electricity meters across the country.
In a circular dated September 5, 2023, and jointly signed by the commission’s Chairman, Sanusi Garba, and Commissioner of Legal, Licensing, and Compliance, Dafe Akpeneye, it was disclosed that the cost of a single-phase prepaid meter would now stand at N81,975.16k, up from its previous price of N58,661.69k.
Similarly, the cost of a three-phase prepaid meter has been increased to N143,836.10k, compared to its previous price of N109,684.36k.
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The circular said that the price adjustment aims to establish a fair and reasonable pricing structure for meters, benefiting both Meter Asset Providers (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.