The Nigerian Electricity Regulatory Commission (NERC) has increased the cost of pre-paid metres by 40 per cent.
A single phase prepaid metre, which hitherto sold for N58,661.69 will now cost N81,975.16.
Furthermore, the cost of the three – phase smart prepaid metre was jerked up by 31 percent to N143,836.10, from the previous from N109,684.36.
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NERC attributed the development to increase in landing cost, etc. and said it was approved under the Meter Asset Provider and National Mass Metering Regulations, jointly signed by the commission’s Chairman, Sanusi Garba and the Commissioner, Legal, Licensing and Compliance, Dafe Akpeneye.
NERC further said the order, which became effective September 6, 2023, would remain in force until amended or revoked by future orders by the Commission.
“The Meter Asset Provider (MAP) scheme is one of the four frameworks in the regulations for the provision of meters to end-use customers in NESI,” the power regulator said.
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“Section 8(1c) of the regulations provides that the costs of single-phase and three-phase meters issued by MAPS, inclusive of all other associated costs of installation and warranties shall be at the regulated rates approved by the commission.
“The Commission notes that the 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.”