The Nigerian Electricity Regulatory Commission (NERC), acting on behalf of the Federal Government, has granted approval for an upward revision of prices for pre-paid electricity meters across the country.
This decision is detailed in a circular dated September 5, bearing the signatures of NERC’s Chairman, Sanusi Garba, and Commissioner for Legal, Licensing, and Compliance, Dafe Akpeneye.
According to the circular, the cost of a single-phase pre-paid meter, which was previously priced at N58,661.69, has now been adjusted to N81,975.16. Similarly, three-phase pre-paid meters, formerly priced at N109,684.36, will now cost N143,836.10.
The revision aims to establish a fair and reasonable pricing framework for meters that benefits both Meter Asset Providers (MAPs) and end-users.
The statement emphasized several key objectives:
- Ensure MAPs can recover reasonable expenses associated with meter procurement and maintenance, allowing for a viable return on investment.
- Evaluate the affordability of meter services to prevent excessive pricing that could burden end-users.
- Guarantee that MAPs can provide meters to end-users within the current economic context.
This adjustment in meter pricing is intended to strike a balance between the sustainability of meter services and the affordability of electricity meters for consumers.