The Federal Government has raised the cost of both single-phase and three-phase electricity meters by more than 30 percent with effect from November 15, 2021.
In a circular dated November 11, 2021, Nigerian Electricity Regulatory Commission raised the cost of a three-phase meter by 32 percent, from the current cost of N82,855.19 to N109,684.36.
NERC also raised the price of a single-phase meter by 30.6 percent, from the current cost of N44,896.17 N58,661.69.
The circular was addressed to managing directors of all electricity distribution companies and all meter asset providers.
The circular has a reference number NERC/REG/MAP/GEN/751/2, and was entitled ‘Review of the unit price of end-use meters under the Meter Asset Provider and National Mass Metering Regulations’.
“In arriving at the approved unit price, the Commission had, in particular, only considered changes in foreign exchange and inflation since the last review in 2020. This price review is subject to change upon the conclusion of the procurement process under Phase 1 of the National Mass Metering Program,” the circular said.
Nigeria’s electricity sector is currently beset by a plethora of challenges, especially the obsolesce of equipment that impedes the transmission of generated power to the consumers.
The Power Distribution companies also face the problem of effectively collecting their revenue arising from the shortage of meters for determining consumers’ bills. This gave rise to the concept of ‘estimated bill’, under which DisCos could change a consumer any amount they wanted.
