The Nigerian Electricity Regulatory Commission, NERC, has approved an increase in the price of pre-paid electricity metres in the country.
This approval is contained in a NERC ‘order’ signed on Tuesday by its chairman, Mr Sanusi Garba, and the Commissioner, Legal, Licensing & Compliance, Mr Dafe Akpeneye, obtained by newsmen on Wednesday in Abuja.
The commission, in the order said that a single phase pre-paid metre would now cost N81,975.16k from the N58,661.69 while three phase pre-paid metres would cost N143,836.10 from N109,684.36.
It said that “significant changes in macroeconomic indicators, such as inflation and changes in the foreign exchange rates necessitated a review of the regulated rates for MAP metres.
The commission also stated that the approved metre prices were exclusive of the 7.5 per cent Value Added Tax (VAT).
It said the new price regime was to ensure a fair and reasonable pricing of metres to both MAPs and end-use customers.
“Ensure Metre Assets Programme (MAP)’s ability to recover reasonable costs associated with metre procurement and maintenance while ensuring that their pricing structure allows for a viable return on investment.
“Evaluate the affordability of metre 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,” it said.
(NAN)