FG increases price of prepaid meters, gives reason

The price of pre-paid power meters in the nation has increased following approval from the Nigerian Electricity Regulatory Commission (NERC).

A single phase pre-paid metre will now cost N81,975.16k from N58,661.69k, according to a circular signed and dated 5 September 2023 by the commission’s Chairman and Commissioner Legal, Licencing and Compliance, Sanusi Garba and Dafe Akpeneye, respectively. Three phase pre-paid metres will now cost N143,836.10k from N109,684.36k.

The new price, according to the circular, will guarantee that metres are priced fairly and reasonably for both MAPs and end-use customers.

“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. 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 development comes as Nigerians continue to grapple with the harsh economic condition occasioned by the recent removal of fuel subsidy.