The Nigerian Electricity Regulatory Commission (NERC) has heightened the agony of postpaid electricity meter users as it approves an upward price review for pay-as-you-go meters in the country by 40 per cent.
Many postpaid customers who applied for prepaid for over 10 months since 2022 are yet to get their orders, even as their monthly electricity bills surge astronomically.
The commission announced the price increase in a memo marked NERC/2023/020, and jointly signed by the commission’s chairman, Mr Sanusi Garba and the commissioner, legal, licencing and compliance, Mr Dafe Akpeneye.
According to the commission, a single-phase meter would now cost N81, 975.16k as against the previous price of N58, 661.69k, while the price of a three-phase meter was increased N143, 836.10k from N109, 684.36k.
The commission said the increment was to ensure fair and reasonable pricing of meters to both Meter Asset Providers (MAPs) and the end-users.
The circular pointed out that the hike would ensure MAP’s ability to recover reasonable costs associated with meter procurement and maintenance, while ensuring that their pricing structure allowed for a viable return on investment.
“Evaluate the affordability of meter services for consumers, aiming to prevent excessive pricing that could burden end-users. Ensure that MAPs are able to provide meters to end-use customers in the prevailing economic realities,” the commission stated.
