The Federal Government announced a rise in the pricing of single-phase and three-phase pre-paid electricity metres on Wednesday, with the adjustments taking effect on September 6, 2023.
The Nigerian Electricity Regulatory Commission issued an order with the number NERC/2023/020, which was jointly signed by the commission’s Chairman, Sanusi Garba, and its Commissioner, Legal, Licencing, and Compliance, Dafe Akpeneye.
The FG noted in the order that a single-phase metre would now cost N81,975.16k, up from N58,661.69k, and a three-phase metre would now cost N143,836.10k, up from N109,684.36k.
The NERC stated that the increased metre fees were necessary to ensure fair and reasonable pricing of metres to both Metre Asset Providers and end-user consumers.
It stated that the price increase would allow MAP to recover appropriate costs related with metre procurement and maintenance while also ensuring that its 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.