The Nigerian Electricity Regulatory Commission (NERC) has said that electricity users who already paid for meters before the prices were increased should be supplied without additional costs.
In a LinkedIn post on Wednesday, the Commission said, “The order on the review of unit cost of end-use meters under the Meter Asset Provider (MAP) and National Mass Metering Programme (NMMP) Regulations was effective since 6 September 2023. MAPs are to supply meters to all customers who had paid previously for meters before the effective date at the prevailing rate without additional increase in cost.”
NERC also explained that the foreign exchange rate was a major reason for the upward review of meter prices earlier this month. It said most components of the meter are imported, and the foreign exchange rate affects their cost. So, with the dollar rate on the rise, it approved the review of meter prices to keep them accessible.
“NERC approved the review of meter prices to reflect the forex adjustment reality to avoid scarcity of meters in our commitment towards putting an end to estimated billing methodology,” it said.
NERC had in the directive dated September 6 outlined a revised cost structure for meter purchases under the Meter Asset Provider (MAP) programme, excluding Value Added Tax (VAT).
According to the new structure, single-phase meters now go for N81,975.16, from the previous cost of N58,661.69, while three-phase meters, formerly priced at N109,684.36, are now sold for N143,836.10.