The Nigerian Electricity Regulatory Commission (NERC) has confirmed the upward review of meter prices in the country after changes in the macro-economic parameters.
In a circular titled ‘Review of The Unit Price of End Users Under the Meter Asset Provider and National Mass Metering Regulations’ dated 11th November 2021 and directed to Managing Directors, all Electricity Distribution Companies and all Meter providers, the NERC noted that the changes in foreign exchange of the Naira was the factor that determined the new prices.
The Single-phase Meter initially went for N44,896.17 but courtesy of the new addition, has risen to N58, 661.69 which is a N3, 765.52 increase while the Three-phase Meter which was N82, 855.19 is now N109,684.36 – meaning a differential of N26, 829.17.
The circular further informed that the price review is subject to change upon the conclusion of the procurement process under Phase 1 of the National Mass Metering Program.
The new price review takes effect from Monday, 15th November 2021, according to the circular signed by the Chairman of the NERC, Sanusi Garba.