NERC Increases Prices of Prepaid Meters

The Nigerian Electricity Regulatory Commission (NERC) has approved an increase in the price of pre-paid electricity meters in the country.

This was contained in a circular dated 5 September and jointly signed by the commission’s chairman and commissioner Legal, Licencing and Compliance, Sanusi Garba and Dafe Akpeneye respectively.

The circular stated that 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 commission added that the new price was to ensure a fair and reasonable pricing of meters to both 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,” the circular added.