In a recent development, the Federal Government announced an adjustment in the pricing of single-phase and three-phase pre-paid electricity meters, with the changes slated to come into effect on September 6, 2023. This decision was officially communicated through an order issued by the Nigerian Electricity Regulatory Commission, bearing the reference number NERC/2023/020. The order, jointly endorsed by the Commission’s Chairman, Sanusi Garba, and its Commissioner for Legal, Licensing, and Compliance, Dafe Akpeneye, outlined the revised pricing structure.

Under the new pricing regime, a single-phase meter will now be priced at N81,975.16k, reflecting an increase from its previous cost of N58,661.69k. Similarly, the price of a three-phase meter has been adjusted to N143,836.10k, up from its former rate of N109,684.36k.

The rationale behind these price adjustments, as explained by the NERC, is to establish equitable and rational pricing for meters, serving the interests of both Meter Asset Providers (MAPs) and end-users. It has been emphasized that these changes aim to enable MAPs to recuperate reasonable expenses associated with meter procurement and maintenance while maintaining a pricing structure that ensures a sustainable return on investment.

Furthermore, the commission has underlined its commitment to assessing the affordability of meter services for consumers, with the goal of preventing exorbitant pricing that might burden end-users. This initiative seeks to ensure that MAPs can supply meters to end-use customers, aligning with the prevailing economic conditions.

This development underscores the evolving landscape of electricity meter pricing and the government’s dedication to fostering a balanced and sustainable electricity distribution system. Further details on this matter are expected to be released in due course.