September 06, (THEWILL) – The Nigerian Electricity Regulatory Commission (NERC) has approved an upward review of the price of pre-paid electricity meters in the country.
The approval was conveyed in a circular jointly signed by the Commission’s Chairman and Commissioner of Legal, Licencing and Compliance, Sanusi Garba and Dafe Akpeneye, respectively.
Dated 5th September, 2023, the circular stated that a single-phase pre-paid meter would now cost N81,975.16k from N58,661.69k while three-phase pre-paid meters are increased to N143,836.10k from N109,684.36k.
NERC said the new price was to ensure 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 read.
