The Nigerian Electricity Regulatory Commission (NERC) has given its approval for an upward adjustment in the prices of prepaid electricity meters in the country,Daily Trust reports.
In a circular dated September 5, 2023, and signed by the Chairman of the Commission, Sanusi Garba, and the Commissioner for Legal, Licensing, and Compliance, Dafe Akpeneye, the new pricing structure has been introduced. It states that the cost of a single-phase prepaid meter will now be N81,975.16k, up from the previous price of N58,661.69k. Similarly, the cost of a three-phase prepaid meter has been increased to N143,836.10k from N109,684.36k.
The circular outlines that this adjustment in pricing is aimed at achieving fair and equitable meter pricing for both Meter Asset Providers (MAPs) and end-users. It emphasizes the need to enable MAPs to recover reasonable costs associated with meter procurement and maintenance while ensuring that their pricing allows for a viable return on investment. Furthermore, it aims to evaluate the affordability of meter services for consumers, thereby preventing excessive pricing that might burden end-users. The goal is to ensure that MAPs can provide meters to end-use customers in the current economic circumstances.