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FG increases prices of electricity meters – NERC

NERC raised the price of a single-phase meter from the current cost of N44,896.17 to a revised price of N58,661.69.

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The federal government has announced an increase in the cost of both single-phase and three-phase electricity meters beginning from November 15, 2021.

This was contained in a circular dated November 11, 2021, issued by the Nigerian Electricity Regulatory Commission (NERC) and addressed to managing directors, all electricity distribution companies and all meter asset providers.

The circular, with reference number NERC/REG/MAP/GEN/751/2, was entitled ‘Review of the unit price of end-use meters under the Meter Asset Provider and National Mass Metering Regulations’.

In the document, the regulator raised the price of a single-phase meter from the current cost of N44,896.17 to a revised price of N58,661.69.

The NERC also increased the price of a three-phase meter from the current cost of N82,855.19 to a revised rate of N109,684.36.

Techeconomy.ng previously reported that the commission noted that revenue to Nigeria’s power sector had improved since the implementation of Service Based Tariffs that started in November 2020,

The NERC explained that power users in bands A and B were now paying as much as 78 per cent of their electricity bills to electricity distribution companies since the commencement of the SBT.

Consumers in bands A and B are higher electricity users, who get greater quantum of power daily than others in bands C, D and E.

The Deputy General Manager, Market Competition and Rates, NERC, Abba Terab, disclosed this in Abuja said there had been significant improvement in tariffs payment by consumers in the sector.

Terab said: “As we speak, the current tariffs customers are paying is about 78 per cent of the cost reflective tariffs, which is a significant improvement and that is the aggregate revenue the Discos collect.

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