- The price of single-phase and three-phase prepaid meters was increased by approximately 40 per cent and 31 per cent, respectively.
- The price review is to create an equitable and sensible meter pricing system that would be fair to Meter Asset Providers (MAPs) and end-user customers.
The Nigerian Electricity Regulatory Commission (NERC) has approved an increase in the prices of prepaid electricity meters in the country. NERC, in a circular signed by the Chairman, Sanusi Garba, and the Commissioner of Legal, Licensing, and Compliance, Dafe Akpeneye, announced the reviewed prices for prepaid meters.
In the circular, a single-phase prepaid meter now costs N81,975.16 compared to the previous price of N58,661.69 (approximately 40 per cent increase). Similarly, the price of a three-phase prepaid meter is now N143,836.10 from N109,684.36 (31.13 per cent).
As stated in the circular, the review of the price of prepaid meters was to create an equitable and sensible meter pricing system that would be fair to both Meter Asset Providers (MAPs) and end-user customers. The circular highlights, “To ensure MAP’s ability to recover reasonable costs associated with meter procurement and maintenance while ensuring 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 MAPs can provide meters to end-use customers in the prevailing economic realities.”