FG Increases Price of Prepaid Meters

The Nigerian Electricity Regulatory Commission (NERC) has approved an upward review of the prices of pre-paid electricity metres in the country.

This was contained in a circular signed and dated September 5, by the commission’s Chairman, Sanusi Garba; and Commissioner for Legal, Licensing and Compliance, Dafe Akpeneye.

According to the circular, 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 also noted that the new price was to ensure a fair and reasonable pricing of meters to both MAPs and end-use customers.

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The circular in part reads,

“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.”