NERC increases price of prepaid meters over naira devaluation

By ISAAC ANYAOGU

Electricity customers in Nigeria from this month will now pay additional 21 percent on the cost of single-phase meters while customers requesting for three-phase meters will endure a 23percent price increase according new rules released by the electricity sector regulator.

In a letter to the DisCos and Meter Asset providers The Nigerian Electricity Regulatory Commission (NERC) said that the price of single-phase meters is now N44896.17 rather the previous N36,991.50 and customers applying for three phase meters will now pay N82,855 instead of N67,055.

“In arriving at the approved unit costs, the commission has considered the recent changes in foreign exchange approved by the Central Bank and the applicable rates available to importers of meter components and/or fully assembled meters through the “Investors and Importers” forex window,” NERC said.

This takes effect from June 1, 2020 and NERC also said it is implementing a second round of Meter Asset Providers. (Business Day)