The Nigerian Electricity Regulatory Commission has approved a price increase for prepaid power meters across the country.
According to Daily Trust, the commission has issued updated tariffs for prepaid meters in a circular dated September 5, 2023, bearing the signatures of the Chairman, Sanusi Garba, and the Commissioner of Legal, Licencing, and Compliance, Dafe Akpeneye.
The cost of a single-phase prepaid meter has increased to N81,975.16k from N58,661.69k, and the price of a three-phase prepaid meter has increased to N143,836.10k from N109,684.36k.
The purpose of the price change, as stated in the circular, is to establish a fair and reasonable meter pricing structure that would be acceptable to both Metre Asset Providers and end-user consumers.
The circular draws attention to the following:
“Make sure MAP’s pricing structure permits a viable return on investment while making sure that their ability to recover reasonable costs associated with meter procurement and maintenance.
“Assess the consumer affordability of meter services with the goal of avoiding exorbitant pricing that can burden end users.
“Make that MAPs can offer meters to end-use customers given the current economic conditions.”
