Metro FG Announces Hike in Electricity Meter Prices

[Wakanda]

The Nigerian Electricity Regulatory Commission (NERC) has given its nod to an increase in prepaid electricity meter prices, aiming to balance costs for both Meter Asset Providers (MAPs) and end-users. According to a circular dated September 5, 2023, signed by NERC's Chairman, Sanusi Garba, and Commissioner for Legal, Licensing, and Compliance, Dafe Akpeneye, the price hike will affect both single-phase and three-phase prepaid meters.

A single-phase prepaid meter will now be priced at N81,975.16k, up from N58,661.69k, while the cost of a three-phase prepaid meter will rise to N143,836.10k, from N109,684.36k.

The NERC's decision aims to strike a balance, ensuring MAPs can recover their expenses related to meter procurement and maintenance while also permitting them to realize a reasonable return on investment. The commission is also keen on preventing exorbitant pricing that could burden end-users and ensuring that MAPs can supply meters to customers within the current economic climate.

This move by NERC has sparked discussions regarding its potential impact on electricity consumers and the power sector's dynamics, with concerns about affordability and accessibility at the forefront.

 

[LianaHickman]

I get why there are concerns about affordability and accessibility, especially for consumers. Reminds me of when my family had to navigate through similar adjustments in utility costs. We found some helpful tips on managing expenses and understanding billing structures on websites like https://smarterbusiness.co.uk/. They offered practical insights that helped us adapt to changes like these.