FG approves price increase for prepaid electricity meters
The Nigerian Electricity Regulatory Commission (NERC) has given the green light for an upward adjustment in the prices of prepaid electricity meters across the country.
In a circular dated September 5, 2023, signed by the commission’s Chairman, Sanusi Garba, and Commissioner of Legal, Licensing, and Compliance, Dafe Akpeneye, it was announced that the cost of a single-phase prepaid meter would be revised to N81,975.16k from its previous price of N58,661.69k.
Additionally, the cost of a three-phase prepaid meter would increase to N143,836.10k from N109,684.36k.
The circular clarified that this price adjustment aims to establish fair and equitable pricing for meters, benefiting both Meter Asset Providers (MAPs) and end-use customers.
It added that the new price is to ensure that MAPs can recover their reasonable expenses related to meter procurement and maintenance while maintaining a viable return on investment.
