The Nigerian Electricity Regulatory Commission (NERC) has approved the increase in meter prices in the country. In a memo, NERC stated that the increase in the meter prices became necessary due to the changes in the macroeconomic parameters.
A single-phase meter will now sell for ₦58,661.69, an increase from ₦44,896.17. On the other hand, the three-phase meters will sell for ₦109,684.36 from the previous price of ₦82,855.19. The changes in these prices will affect the provisions of the Meter Asset Provider (MAP) and National Mass Metering Programme (NMMP) Regulations.
”In arriving at the approved unit price, the Commission had, in particular, only considered changes in foreign exchange and inflation since the last review of June 2020.” the Commission said.
”This price review is subject to change upon the conclusion of the procurement process under phase one of the National Mass Metering Programme. This price review is effective from November 15, 2021,” the memo stated.
(Electricity Hub)
Cover Photo: Prepaid meter. Credit: Punch.
