NERC increases electricity meters’ prices

Effective from Monday, November 15, Nigerians will have to pay more to have both single-phase and three-phase meters for Nigerians.

At present, there are about six million un-metered individual and business electricity consumers in the country.

A circular dated November 11, 2021, issued by the Nigerian Electricity Regulatory Commission (NERC) showed that the hike in prices is beginning from Monday, November 15, 2021.

The circular, with reference number NERC/REG/MAP/GEN/751/2, entitled ‘Review of the unit price of end-use meters under the Meter Asset Provider and National Mass Metering Regulations,’ was addressed to managing directors, all electricity distribution companies and all meter asset providers.

The regulator increased the price of a single-phase meter from the current cost of N44,896.17 to N58,661.69.

Also it hiked the price of a three-phase meter from the current cost of N82,855.19 to N109,684.36.

The hike excludes the 7.5 percent Value Added Tax (VAT) the electricity distribution companies (DisCOs) are expected to add to the new price at the point of purchase.