NERC Increases Prices Of Prepaid Meters (SEE NEW PRICE)

NERC Increases Prices Of Prepaid Meters (SEE NEW PRICE)

The Nigerian Electricity Regulatory Commission (NERC) has given approval for an increase in the prices of pre-paid electricity meters in the country.

According to a circular jointly signed by the Chairman, Sanusi Garba, and Commissioner Legal, Licencing and Compliance, Dafe Akpeneye, dated September 5, the cost of a single-phase pre-paid meter has been raised to N81,975.16k from N58,661.69k, while the price of a three-phase pre-paid meter is now N143,836.10k, up from N109,684.36k.

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The commission stated that this adjustment aims to establish a fair and reasonable pricing structure for meters, benefiting both Meter Asset Providers (MAPs) and end-users.

It further emphasized the need to enable MAPs to recuperate their legitimate expenses for meter procurement and maintenance while ensuring their pricing model allows for a sustainable return on investment. The affordability of meter services for consumers was also taken into account to prevent any undue financial burden on end-users. This decision aims to ensure that MAPs can continue supplying meters to end-users in the current economic circumstances.