The Nigerian Electricity Regulatory Commission (NERC) has approved an increase in the prices of prepaid electricity meters in the country.
In a circular dated September 5, 2023, and signed by the Chairman of the Commission, Sanusi Garba, and the Commissioner for Legal, Licensing, and Compliance, Dafe Akpeneye, it was announced that the cost of a single-phase prepaid meter would now be N81,975.16k, up from N58,661.69k, while the price of a three-phase prepaid meter has been raised to N143,836.10k from N109,684.36k.
The circular states that this adjustment in pricing aims to achieve fair and reasonable meter pricing for both Meter Asset Providers (MAPs) and end-use customers.
It further outlines the objectives of this price increase, which include ensuring that MAPs can recover reasonable costs associated with meter procurement and maintenance, preventing excessive pricing that could burden end-users, and ensuring that MAPs can supply meters to end-use customers in the current economic conditions.
