The Nigerian Electricity Regulatory Commission (NERC), noting the rising production costs that metre makers must contend with, is considering raising the cost of prepaid metres in the near future.
Manufacturers have apparently stopped sending bills to Distribution Companies (Discos) as a result of the commission’s ruling, presumably in preparation for the upcoming upward price increase.
According to sources, the foreign exchange crisis that is currently engulfing the economy is directly responsible for the spike in metre prices, which has increased manufacturing costs and put businesses under pressure to raise prices.
FG Begins Free Distribution Of Prepaid Metres Nationwide
Prepaid metre pricing were earlier amended by NERC in a September 2023 circular (NERC/2023/020), which was jointly signed by the commission’s chairman, Sanusi Garba, and commissioner for legal, licencing, and compliance, Dafe Akpeneye.
The circular states that the price of a single-phase metre went up from N58,661.69 to N81,975.16, and the price of a three-phase metre went up from N109,684.36 to N143,836.10.
The approval of prepaid metre charges is a critical function of NERC, the industry regulator. Prepaid metres are frequently brought into the nation in partially assembled form before being installed locally for usage.
Prepaid metres have improved throughout time, with DisCos adding tools to prevent energy theft and offering more thorough usage information.
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