NERC approves increase in price of prepaid meters to N81,000

An increase in the prices of prepaid electricity meters has been approved by the Nigerian Electricity Regulatory Commission (NERC).

NERC confirmed this in a circular jointly signed by the commission’s chairman, Sanusi Garba and its commissioner, legal, licencing, and compliance, Dafe Akpeneye.

The commission noted that a single-phase meter will now cost N81,975.16k, instead of the previous price of N58,661.69k.

Similarly, the price of a three-phase meter was increased to N143,836.10k from N109,684.36k.

According to the NERC, the new charges will take effect from Wednesday, September 6, 2023.

The approved meter prices are exclusive of value-added tax (VAT), NERC added.

“The approved meter prices are also inclusive of the revised Nigerian Electricity Management Services Agency (“NEMSA”) sealing cost,” the notice reads.

“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.”