The Nigerian Electricity Regulatory Commission(NERC) has in a circular dated Thursday, November 11, 2021, increased rate of both single-phase and three-phase electricity meters to N58,661.69 and N109,684.36 respectively effective from Monday, November 15, 2021.
The Commission’s circular, which was signed by Engineer Sanusi Garba, Chairman of Nigerian Electricity Regulatory Commission (NERC), with reference number NERC/REG/MAP/GEN/751/2, was entitled ‘Review of the unit price of end-use meters under the Meter Asset Provider and National Mass Metering Regulations’ was addressed to the managing directors, all electricity distribution companies and all meter asset providers.
NERC in the circular revised the price of N58,661.69 of the a single-phase meter up from the current cost of N44,896.17.
The price of a three-phase meter was also revised upward to N109,684.36, from the current cost of N82,855.19.
The NERC Chairman, in the circular disclosed that the upward review of the rate was in pursuant of the provision of the meter asset provider(MAP) and National mass metering regulations.
He said, “NERC noted the recent changes in macro-economic parameters and hereby review upward the unit price of the meter.
“In arriving at the approved unit price, NERC had in particular, only considered changes in foreign exchange and inflation since the last review of June 2020.”
The NERC Chairman however disclosed that the price review is subject to change upon the conclusion of the procurement process under phase 1 of the National Mass Metering Programme.