The Nigerian Electricity Regulatory Commission (NERC) has approved an upwards review of the prices of prepaid electricity meters in the country.

In a circular dated September 5, 2023, NERC said the new prices are as follows:

Single-phase meter: N81,975.16, up from N58,661.69

Three-phase meter: N143,836.10, up from N109,684.36

The circular said the new price was to ensure a fair and reasonable pricing of meters to both MAPs and end-use customers.

“Ensure MAP’s ability to recover reasonable costs associated with meter procurement and maintenance while ensuring that their pricing structure allows 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.