The FG raises the price of electricity metres.

The Nigerian power Regulatory Commission (NERC) has approved an increase in the price of the country’s pre-paid power metres.

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, a single phase pre-paid metre would now cost N81,975.16k, up from N58,661.69k, and three phase pre-paid metres would cost N143,836.10k, up from N109,684.36k.

According to the circular, the new price was set to provide fair and appropriate metre pricing for both MAPs and end-use customers.

“Ensure MAP’s ability to recover reasonable costs associated with metre procurement and maintenance while maintaining a viable return on investment.” Evaluate the affordability of metre services for consumers, with the goal of avoiding exorbitant pricing that could burden end-users. Ensure that MAPs can deliver metres to end-user customers despite current economic conditions.