The Nigerian Electricity Regulatory Commission, NERC, has announced that a single-phase prepaid meter would now cost N81,975.16 while the price of a three-phase prepaid meter has also been increased to N143,836.10.
NERC announced the new development in a memo jointly signed by its chairman, Sanusi Garba and its commissioner for legal, licensing and compliance, Dafe Akpeneye, dated September 5.
Before now, a single-phase prepaid meter costs N58,661.69 and a three-phase prepaid meter costs N109,684.36.
On why it reviewed the prices of the meters, the NERC said it was to “evaluate the affordability of meter services for consumers, aiming to prevent excessive pricing that could burden end-users” and “ensure that Meter Asset Providers, MAPs, are able to provide meters to end-use customers in the prevailing economic realities.”
The approved meter prices are exclusive of value-added tax, VAT, and are inclusive of the revised Nigerian Electricity Management Services Agency, NEMSA, sealing cost of N842.80 per unit for a single-phase meter and N1,100.80 per unit for a three-phase meter, NERC added.
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