From John Adeleke
The Nigerian Electricity Regulatory Commission (NERC) has approved an upward review of prices for prepaid electricity meters used in the country.
The NERC stated this in a circular dated September 5, 2023 and signed by the commission’s chairman, Sanusi Garba, and commissioner, Legal, Licencing and Compliance, Dafe Akpeneye, a copy of which was made available to newsmen.
According to NERC, a single phase prepaid meter would now cost N81,975.16 instead of N58,661.69k while three phase prepaid meter is increased to N143,836.10k from N109,684.36k, saying that the approved meter prices were exclusive of the 7.5 per cent Value Added Tax (VAT).
The circular added that the new price was to ensure a fair and reasonable pricing of meters to both MAPs and electricity consumers.
“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,” it stated.
