The Nigerian Electricity Regulatory Commission (NERC) has granted approval for an upward adjustment in the pricing of prepaid electricity meters within the nation. In a circular dated September 5, 2023, signed by the Chairman, Sanusi Garba, and the Commissioner for Legal, Licensing, and Compliance, Dafe Akpeneye, it was announced that a single-phase prepaid meter will now be priced at N81,975.16k, up from N58,661.69k, while three-phase prepaid meters will increase to N143,836.10k from N109,684.36k.
The circular explained that this new pricing is intended to establish a fair and equitable cost structure for meters, benefiting both Meter Asset Providers (MAPs) and end-users.
Its primary objectives are:
To ensure that MAPs can recover reasonable expenses related to meter procurement and maintenance, while also allowing for a sustainable return on investment.
To assess the affordability of meter services for consumers, aiming to prevent excessive pricing that could burden end-users.
To guarantee that MAPs can continue to supply meters to end-use customers in the current economic conditions.
