Hard times for electricity consumers as NERC hikes price of meters

Electricity consumers in the country would henceforth pay more for pre-paid meters following the hike in the price of the items by the Nigerian Electricity Regulatory Commission (NERC).

In a memo signed by its Chairman, Prof. James Momoh, NERC increased the price of three-phase meters from N67,055 to N82,855.19, while single-phase meters would sell for N44.896.16 from the previous N36,991.

READ ALSO: 62.3% of electricity consumers still on estimated billing —NERC

The price changes, according to Momoh, were pursuant to section 19 (d) of the Meter Asset Providers (MAPs) regulation.

He said: “In arriving at the approved unit costs, the Commission has considered the recent changes in foreign exchange approved by the Central Bank of Nigeria and the applicable rate available to importers of meter component or fully assembled meters through investors and exporters’ forex window.”

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