The Federal Government, on Wednesday, announced an increase in the prices of single-phase and three-phase pre-paid electricity meters, and declared that the price changes will take effect from September 6, 2023.
According to a circular signed and dated 5 September 2023 by the commission’s Chairman and Commissioner Legal, Licencing and compliance, Sanusi Garba and Dafe Akpeneye, stated that a single phase pre paid meter would now cost N81,975.16k from the N58,661.69k while three phase pre paid meters is increased to N143,836.10k from N109,684.36k.
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On why it increased the costs of the meters, the NERC said it was to ensure fair and reasonable pricing of meters to both Meter Asset Providers and end-user customers.
It noted that the price hike would ensure MAP’s ability to recover reasonable costs associated with meter procurement and maintenance, while ensuring that their pricing structure allowed 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,” the commission stated.
