By Eugene Onyeji
The Nigerian Electricity Regulatory Commission (NERC) has approved the increase in meter prices in the country. In a circular to all the 11 Discos, NERC stated that the increase in the meter prices became necessary due to the changes in the macroeconomic parameters.
A single-phase meter will now sell for ₦58,661.69, an increase from ₦44,896.17. On the other hand, the three-phase meters will sell for ₦109,684.36 from the previous price of ₦82,855.19. The changes in these prices will affect the provisions of the Meter Asset Provider (MAP) and National Mass Metering Programme (NMMP) Regulations.
The circular which is titled, ‘Review of the unit price of end-user meters under the meter asset provider and national mass metering regulations,‘ pointed out that all costs are exclusive of Value Added Tax (VAT).
The commission in the circular said that in arriving at the approved unit price, it had to consider changes in foreign exchange and inflation since the last review that was done in June 2020.
”This price review is subject to change upon the conclusion of the procurement process under phase one of the National Mass Metering Programme. This price review is effective from November 15, 2021,” the memo stated.
In August 2020, President Muhammadu Buhari directed that there should be a nationwide mass metering programme for electricity consumers in the country in an effort by the Federal Government to put an end to estimated and arbitrary billing for electricity.
The government is working to ensure that Electricity Distribution Companies (DISCOs) commit to increasing the number of hours of electricity supply every day and to also improve on their quality of service.
The Presidency had earlier announced the approval of a one-year waiver of import levy on electricity meters, so that Nigerians who do not have meters can be supplied as early as possible at a reasonable cost
The government also had in August this year, announced that it will soon commence the second phase of its National Mass Metering Programme (NMMP), a scheme to get more Nigerians connected to the grid and make electricity distribution more efficient, in August 2021.
