The Federal government, through the Nigerian Electricity Regulatory Commission (NERC), has approved an upward review of the prices of pre-paid electricity metres in the country.
The price hike was contained in a circular dated September 5 and signed by the commission’s Chairman, Sanusi Garba; and Commissioner for Legal, Licensing and Compliance, Dafe Akpeneye.
It stated that a single-phase pre-paid metre that cost N58,661.69 would now cost N81,975.16, while three-phase pre-paid metres had increased from N109,684.36 to N143,836.10.
The circular also noted that the new prices were to ensure a fair and reasonable pricing of metres to both Metre Asset Providers (MAPs) and end-user 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,” the statement read.
“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.”
