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.
In this article, we will tell you the current prices of prepaid meter in Nigeria.
What Is Nigeria Electricity Regulatory Commission NERC?
The Nigerian Electricity Regulatory Commission NERC is an independent body, established by the Electric Power Sector Reform Act of 2005 to undertake technical and economic regulation of the Nigerian Electricity Supply Industry. The Commission is to, among others license operators, determine operating codes and standards, establish customer rights and obligations and set cost reflective industry tariffs. The Commission has its head quarters in Abuja, and currently has presence in most states of the country through its Forum Offices which function as the first level of escalation for customer complaints that are not resolved by the electricity distribution companies (DisCos).
According to NERC, it approved the review of meter rates to reflect the FX adjustment reality in order to avoid meter scarcity as part of its commitment to ending anticipated billing technique. Let us continue the discussion on electricity meters in Nigeria and strive toward affordable and dependable power for all!
The order on the evaluation of unit costs of end-use meters under the meter asset provide and National mass metering program regulations went into effect on September 6, 2023.
MAPs are required to provide meters to all customers who have previously paid for meters prior to the effective date at the prevailing rate, with an extra cost increase.
Because of changes in foreign exchange rates, the cost of power meters was examined. The majority of our meters’ components are imported, and their cost is affected by the currency rate.
With the dollar’s value rising, NERC approved a revision of meter pricing to maintain them affordable. NERC stated, “Our mission is to ensure that every registered electricity user receives a meter.
Current Prices Of Prepaid Meters In Nigeria
A single-phase prepaid meter will now be priced at N81,975.16k, up from the previous N58,661.69k, while the cost of a three-phase prepaid meter has been raised to N143,836.10k from the previous N109,684.36k.