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FG Increases Price of Pre-paid Meter

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CEM REPORT, ENERGY | The price of a single-phase pre-paid meter would now cost ₦81,975.16k, while the price of a three-phase pre-paid meter will go for ₦143,836.10k as ordered by the federal government.

The new price order will take effect from September 6, 2023, according to a memo by the Nigerian Electricity Regulatory Commission with the number, NERC/2023/020, and jointly signed by the commission’s Chairman, Sanusi Garba, and its Commissioner, Legal, Licencing and Compliance, Dafe Akpeneye.

In the order, the FG stated that a single-phase meter would now cost ₦81,975.16k from the previous price of ₦58,661.69k, while the price of a three-phase meter will be available ₦143,836.10k from ₦109,684.36k.

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The memo detailed that the increase was to ensure fair and reasonable pricing of meters to both Meter Asset Providers (MAP) and end-user customers.

“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,” the commission stated.

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