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.

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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.”