July 20, 2024

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NERC Increases Prices Of Electricity Meters

1 min read

Mojisola Lawal

The Nigerian Electricity Regulatory Commission (NERC) has announced a 30.6 percent increase in the unit for single-phase meters and 32.4 percent for three-phase.

This implies that a single-phase Meter that initially sells for N44,896 would now sell at N58,661 putting the increase at N13,776 per unit.

The Commission conveyed this in a notice to the Managing Directors(MD) of the 11 electricity distribution companies (DisCos) signed by its Chairman, Sanusi Garba.

A unit of the three-phase meter that initially sells for N82,855 will now go for N109,684 putting the increase at N26,829.

But, the increase which takes effect from, November 15, 2021, is exclusive of the 7.5bpercent Value Added Tax(VAT).

It partly reads:”Pursuant to the provisions of the Meter Asset Provider and National ‘Mass Metering Regulations, the Nigerian Electricity Regulatory Commission notes the recent changes in macroeconomic parameters and hereby approves an upward review of the unit price of meters.”

It stated that the upward review was due to changes in foreign exchange and inflation adding that the price review is subject to change upon the conclusion of the procurement process under phase 1 of the National Mass Metering Program.

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