The Nigerian Electricity Regulatory Commission (NERC) has approved an increase in the cost of prepaid electricity meters across the country.
The commission has issued new prepaid meter charges in a circular dated September 5, 2023, signed by the Chairman, Sanusi Garba, and the Commissioner of Legal, Licensing, and Compliance, Dafe Akpeneye.
A single-phase prepaid meter will now cost N81,975.16k, up from N58,661.69k previously, while a three-phase prepaid meter will cost N143,836.10k, up from N109,684.36k previously.
The motivation for the price modification, as outlined in the circular, was to create an equal and sensible meter pricing system that would be fair to both Meter Asset Providers (MAPs) and end-user customers.
The circular emphasizes the following points:
- “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.”