The Nigerian Electricity Regulatory Commission (NERC) has approved new prices for prepaid meters for customers willing to purchase.
This is was contained in a circular signed by the NERC’s Chairman, Sanusi Garba and Commissioner, Legal, Lincensing and Compliance, Dafe Akpeneye on Tuesday.
NERC in the circular said, “pursuant to the provisions of section 8{1}(c) of the Regulations which provides that the costs of single-phase and three-phase meters for Meter Asset Providers (MAPs), inclusive of all other associated costs of installation and warranties shall be at the regulated rates approved by the Commission, the Commission hereby approves the review of meter prices of MAP issued meters”.
NERC Reviewed the Price of Single – Phase Meter from N58,661.69 to N81,975.16 (4G, Smat) and Three – Phase Meter from N109,684.36 to N143,836.10 (4G, Smart) respectively.
NERC said, “the approved meter prices are exclusive of Value Added Tax (VAT). The approved meter prices are also inclusive of the revised Nigerian Electricity Management Services Agency (“NEMSA”) sealing cost. i. Single-phase meter: NGN842.80 per unit. ii. Three-phase meter: NGN1,100.80 per unit.
It urged all MAPs to 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.
“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”, NERC said.
With VAT, electricity customers will be paying N88,123.30 for Single Phase meters and N154,623.81 for Three Phase meters.
The upward review of the price did not go down well with some electricity consumers.
Reacting to the development, a customer said, “the timing of the hike, which comes just as Nigerians are facing rising inflation and other economic challenges. This is likely to make the hike even more difficult to bear”.
Another said, “I’m loving the banana republic of Nigeria. I work with the company and I love the way Nigeriáns are adjusting to the hardship pro-max coming for them. Let them keep adjusting until the average life expectancy of a Nigerian because 20yrs”.
A customer said, “In a bid to discourage consumers from getting the prepaid meters probably. Electricity, residents in the south hardly see it to use”.
Another said, “There’s been power outages for over 2 days now all they could do is increase prices of prepaid metres.. this country is really moving forward”.
