The Nigerian Electricity Regulatory Commission (NERC) has granted approval for an upward adjustment in the prices of prepaid electricity meters.
According to a circular dated September 5, 2023, signed by the Chairman, Sanusi Garba, and the Commissioner of Legal, Licensing, and Compliance, Dafe Akpeneye, the commission has announced revised prices for prepaid meters.
A single-phase prepaid meter will now be priced at N81,975.16k, up from the previous N58,661.69k, while the cost of a three-phase prepaid meter has been raised to N143,836.10k from the previous N109,684.36k.
As detailed in the circular, the motivation behind the price adjustment was to create an equitable and sensible meter pricing system that would be fair to both Meter Asset Providers (MAPs) and end-user customers.
According to NERC MAP’s will ensure ability to recover reasonable costs associated with meter procurement and maintenance while ensuring that their pricing structure allows for a viable return on investment. It will also evaluate affordability of meter services for consumers, aiming to prevent excessive pricing that could burden end-users.
It also stated that in “Pursuant to the provisions of section 8(1)(c) of the Regulations which provides that the costs of single-phase and three-phase meters for MAPs, inclusive of all other associated costs of installation and warranties shall be at the regulated rates approved by the Commission, the Commission hereby approves the following review of meter prices of MAP issued meters.
“The approved meter prices are exclusive of Value Added Tax (VAT). The approved meter prices are also inclusive of the revised Nigerian Electricity Management Services Agency (“NEMSA”) sealing cost.
“All MAPs shall adjust their prices to reflect the approved rates. All Maps shall supply meters previously paid for by end-use customers prior to the commencement of this Order at the prevailing rate when payment was made by the customers without additional increase in cost.
“All DisCos and MAPs are to develop/implement customer enlightenment campaigns on the price review along with a schedule on the implementation of their meter rollout plans.
“All MAPs shall continue to file monthly sales and meter installation returns with the Commission.”
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