The Nigerian Electricity Regulatory Commission (NERC) has approved an increase in the price of pre-paid electricity meters in the country in a new ‘order’ released Tuesday.
This is contained in a NERC ‘order’ signed on Tuesday by its Chairman, Mr Sanusi Garba and the Commissioner, Legal, Licensing & Compliance, Mr Dafe Akpeneye obtained by newsmen on Wednesday in Abuja.
The commission, in the order said that a single phase pre-paid meter would now cost N81,975.16k from the N58,661.69 while three phase pre paid meters would cost N143,836.10 from N109,684.36.
It said that “significant changes in macroeconomic indicators, such as inflation and changes in the foreign exchange rates have necessitated a review of the regulated rates for MAP meters.
The commission also stated that the approved meter prices were exclusive of the 7.5 per cent Value Added Tax (VAT).
It said the new price regime was to ensure a fair and reasonable pricing of meters to both MAPs and end-use customers
“Ensure Meter Assets Programme (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,” it said.