May 22, 2024
ELECTRICITY: NERC increases electricity meter price by 40%
ELECTRICITY: NERC increases electricity meter price by 40%
ELECTRICITY: NERC increases electricity meter price by 40%
– By Ayomide Oginni

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ELECTRICITY: NERC increases electricity meter price by 40%

 

By Eyo Nsima

The Nigerian Electricity Regulatory Commission, NERC, has increased the price of single phase meters by N23, 313.47 or 39.74 percent from N58, 661.69 to N81, 975.16.

The price for three phase meters was also raised by N34, 151.74 or 31.13 percent from N109, 684.36 to N143,836.10.

NERC increases electricity meter price by 40%
NERC increases electricity meter price by 40%   

In its order obtained by TheDaily, www.thedaily-ng.com, the Chairman of the Commission, Engr. Sanusi Garba and the Commissioner, Legal, Licensing & Compliance, Dafe Akpeneye, attributed the increase to a “significant changes in macroeconomic indicators, such as inflation and changes in the foreign exchange rates have necessitated a review of the regulated rates for MAP meters”.

The regulator said it was guided by the relevant data it obtained from the Central Bank of Nigeria, CBN, and the National Bureau of Statistics, NBS.

It stated that the decision is targeted at “Ensuring 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.

NERC increases electricity meter price by 40%
NERC increases electricity meter price by 40%

“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”.

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