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Federal Government Increases Electricity Meter Prices

Electricity Meter


Federal Government Increases Electricity Meter Prices

The affordability of meter services for consumers, aiming to prevent excessive pricing that could burden end-users

The Nigerian Electricity Regulatory Commission (NERC), on behalf of the Federal Government, has granted approval for a price hike of prepaid electricity meters across the country.

In a statement signed on Wednesday, September 5, 2023,  by the Chairman of the commission, Sanusi Garba, and the Commissioner for Legal, Licensing, and Compliance, Dafe Akpeneye.

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According to the circular, the price of a single-phase prepaid meter, previously priced at N58,661.69, has been revised to N81,975.16. Additionally, three-phase prepaid meters, which were previously priced at N109,684.36, have now increased to N143,836.10.

The circular also emphasized that the updated prices were implemented to establish a fair and equitable pricing structure for both Meter Asset Providers (MAPs) and end-user customers.

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“Ensure MAP’s ability to recover reasonable costs associated with meter procurement and maintenance while ensuring that their pricing structure allows for a viable return on investment,” the statement read.

“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.”

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