Single-phase now N81K as NERC approves price increase for prepaid meters

The Nigerian Electricity Regulatory Commission (NERC) has approved an increase in the price of prepaid electricity meters in the country.

The commission announced the increase in a notice signed by its Chairman, Mr. Sanusi Garba, and the Commissioner, Legal, Licensing and Compliance, Mr. Dafe Akpeneye, on Tuesday in Abuja.

The notice was made available to journalists on Wednesday in Abuja.

NERC said a single-phase pre-paid meter would now cost N81,975.16 from N58, 661.69 while that of the three-phase meter increased from N109,684,366 to N143,836.10.

The commission revealed that the approved meter prices were exclusive of the 7.5 percent Value Added Tax (VAT).

The new price regime, according to NERC, was to ensure fair and reasonable pricing of meters to both Meter Assets Programme (MAPs) and end-use customers.

READ ALSO: NERC asks Nigerians to update prepaid meters before November 2024

It said: “Significant changes in macroeconomic indicators, such as inflation and changes in the foreign exchange rates have necessitated a review of the regulated rates for MAP meters.

“Ensure Meter Assets Programme (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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