The upward review of prices of prepaid electricity meters approved by the Nigerian Electricity Regulatory Commission (NERC) has been blamed on Inflation, landing cost of the material, and the recent increase in charges by Nigerian Customs Services.
Others are multiple Charges by various Institutions in charge of Ports and the increasingly outrageous cost of doing business in Nigeria and other built-in costs.
According to the approved price list Single Phase Pre Paid Meters is now N81, 975 . 16k. from N58 , 661 .69k, 3 Phase Pre Paid Meters is now N143 , 836 .10k from N109 ,684.36k …
This was contained in a circular dated September 5, 2023, signed by the Chairman, Sanusi Garba, and the Commissioner of Legal, Licensing, and Compliance, Dafe Akpeneye, of the commission.
The Commission said the motivation behind the price adjustment was also to create an equitable and sensible meter pricing system that would be fair to both Meter Asset Providers (MAPs) and end-user customers.
According to NERC MAP’s will ensure the ability to recover reasonable costs associated with meter procurement and maintenance while ensuring that their pricing structure allows for a viable return on investment. It will also evaluate affordability of meter services for consumers, aiming to prevent excessive pricing that could burden end-users.
It also stated that “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 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 following review of meter prices of MAP issued meters.
“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.
“All MAPs shall 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.”
