Federal Government Raises Prices for Electricity Meters

The Federal Government of Nigeria has approved a review of the prices of electricity meters in the country.

The Nigerian Electricity Regulatory Commission (NERC) said in the circular released that the approval is expected to begin on September 6. The circular was signed by the NERC Chairman, Sanusi Garba, and its Commissioner, Legal, Licencing and Compliance, Dafe Akpeneye.

In the circular, the price of a single-phase meter (4G, smart) will be increased to N81,975.16 from the previous N58,661.6, while the price of a Three-phase meter (4G, smart) will increase from N109.684.36 to N143,836.10.

The commission also noted that changes in macroeconomic indicators, such as inflation and changes in FX rates have caused a need to review the regulated rates for Meter Asset Provider (MAP).

The commission also took consideration necessary data on important changes in macroeconomic indicators from the Central Bank of Nigeria (CBN) and the National Bureau of Statistics (NBS) as the benchmarks for the meter cost review.

It was also noted that the approval seeks to ensure and reasonable pricing of meters of both MAPs and customers.

• Single-phase meter NGN 842.80 per unit and Three-phase meter NGN 1,100.80 per unit.

• 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 an 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.