The Nigerian Electricity Regulatory Commission (NERC) has approved a 40% increase in the price of prepaid electricity metres in the country.
As stated in a September 5, 2023, circular signed by the commission’s Chairman and Commissioner Legal, Licencing, and Compliance, Sanusi Garba and Dafe Akpeneye, respectively, a single-phase pre-paid metre will now cost N81,975.16k from N58,661.69k, while a three-phase pre-paid metre will now cost N143,836.10k from N109,684.36k.
This implies that electricity consumers will have to pay an additional N23,313.64 for a single-phase metre, which is 40 per increment, and N34,151.76 to get a three-phase metre, representing a 31 percent increase.
The circular stated that the new price is to “ensure MAP’s ability to recover reasonable costs associated with metre procurement and maintenance while ensuring that their pricing structure allows for a viable return on investment.
“Evaluate the affordability of metre services for consumers, aiming to prevent excessive pricing that could burden end-users.
“Ensure that MAPs are able to provide metres to end-use customers in the prevailing economic realities,” the circular stated.
