The Nigerian Electricity Regulatory Commission (NERC) has approved an increase in the price of pre paid electricity meters in the country.

The NERC announced the changes in a circular signed and dated 5 September 2023 by the commission’s Chairman, Sanusi Garba, and Commissioner Legal, Licencing and compliance, Dafe Akpeneye.

With the new pricing, a single phase pre paid meter was increased from N58,661.69 to N81,975.16. Meanwhile, the three-phase pre paid meters was hiked from N109,684.36 to N143,836.10.

The circular said the new price was to ensure a fair and reasonable pricing of meters to both meter providers and end-use customers.

The circular reads partly, “Ensure MAP’s ability to recover reasonable costs associated with meter procurement and maintenance while ensuring that their pricing structure allows for a viable return on investment.

Evaluate the affordability of meter services for consumers, aiming to prevent excessive pricing that could burden end-users. Ensure that MAPs are able to provide meters to end-use customers in the prevailing economic realities”.