Federal Government increases electricity meter prices
Vondigest reports that President Muhammadu Buhari-led Federal Government has announced an increase in the price of both single-phase and three-phase electricity meters.
The Federal Government has raised the cost of both single-phase and three-phase electricity meters beginning from November 15, 2021.
The circular was addressed to managing directors of all electricity distribution companies and all meter asset providers.
According to the circular that dated November 11, 2021 and issued by the Nigerian Electricity Regulatory Commission, with reference number NERC/REG/MAP/GEN/751/2, was titled ‘Review of the unit price of end-use meters under the Meter Asset Provider and National Mass Metering Regulations’. It stated that the price of a single-phase meter has been increased from the current cost of N44, 896.17 to a revised price of N58, 661.69.
According to the NERC, the price of a single-phase meter increased from the current cost of N44, 896.17 to a revised price of N58, 661.69.
While the price of a three-phase meter also increased from the current cost of N82, 855.19 to a revised rate of N109, 684.36.
The increase is coming despite stakeholders decrying the poor implementation of the Meter Asset Providers (MAPs) policy.
Vondigest recalls that the prices which were initially N36, 991 for single phase and N67, 055 for three-phase meters, were increased in 2018 to N44.896.16 for single phase and N82, 855.19 for three-phase meters.