FG increases price of electricity meters

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

In 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, it stated that a single phase pre paid meter would now cost N81,975.16k from the N58,661.69k while three phase pre paid meters is increased to N143,836.10k from N109,684.36k.

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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.