- NERC announced this in a Notice order signed by Chairman Sanusi Garba and Commissioner Legal, Licensing and Compliance, Dafe Akpeneye
- The proposed increase in electricity prices for single-phase and three-phase meters will result in a 31% increase for consumers, with an additional N23,313.64 per increment
The price of pre-paid power metres in the nation has increased following approval from the Nigerian power Regulatory Commission (NERC).
A single phase pre-paid metre will now cost N81,975.16k from N58,661.69k, according to a circular signed and dated 5 September 2023 by the commission’s Chairman and Commissioner Legal, Licencing and Compliance, Sanusi Garba and Dafe Akpeneye, respectively. Three phase pre-paid metres will now cost N143,836.10k from N109,684.36k.
The circular said 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.
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