Amidst harsh economic conditions faced by Nigerians, Ikeja Electric has unveiled new prices of meters, Techeconomy can report.
Monday, Ikeja Electric also revealed six organisations where various capacities of meters at different prices can be procured.
According to the Electricity Distribution Company (DisCo), 1-Phase (Smart Meter- PLC) will sell for #112,853.50, the 3-Phase (Smart Meter-PLC) #214,403.38.
However, 1-Phase (Smart Meter-GSM/GPRS) price ranges from; #111,235.63, #112,337.76 and #96,750.00 respectively.
Furthermore, the 3-Phase (Smart Meter-GSM/GPRS) can be procure for prices around; #213,597.13, 206,737.42, and 182,750.00 respectively. Meanwhile, the prices for the 1-Phase(Smart Meter-Cellular)are; #112,235.63, #115,025.00, #112,337.76 and #114,487.50.
The 3-phase (Smart Meter Din-Rail-PLC), goes for; #213,597.13, #218,225.00, #206,737.42, and #217,687.50. But customers can buy the 1-Phase (D-in-Rail-PLC) for #93,525.00, while the 1-Phase (Din-Rail-RF) can be purchased for the sum of #133,300.00 and #91,375.00 respectively.
It is important to note that a public opinion poll conducted by NOI Polls, revealed ownership of fixed pre-paid metering is limited to only 37 per cent of the electricity customers in Nigeria.
The rest of the customers are divided among those who use post-paid meters and those who do not have a meter, but simply pay fixed amounts of money for electricity. Being the most efficient way to distribute electricity, usage of pre-paid meters is highest in the North-East zone and lowest in the South-East zone.
Further findings revealed that among all respondents, those paying amounts within the band of ₦1,000 – ₦5,000 per month represent the largest group of users (44 per cent).
More findings showed that on average, most electricity customers around the country (68 per cent) have a power supply for less than 9 hours per day including 5 per cent that have no electricity supply at all.
In addition, when respondents were asked if they are willing to pay more to get 24 hours of electricity, findings revealed that most of the respondents (67 per cent) expressed willingness to pay more for a steady electricity supply in their respective households.
Earlier this year, Musiliu Oseni, the NERC Vice Chairman, announced hike in electricity tariffs, he disclosed this while speaking at a press conference in Abuja.
Mr Oseni explained that only electricity customers in Band A would be affected by the increase.
He noted that the increase would not affect Bands B, C, D and E while noting that the number of customers previously on Band A has been reduced. Band A customers are offered an average daily electricity supply of 20 hours, although many complain they do not get up to that.
The official said, the Band A consumers represent 15 per cent of the population but consume 40 per cent of the nation’s electricity.
Accordingly, he said, power distribution companies (DisCos), will be allowed to raise electricity prices to N225 ($0.15) per kilowatt-hour from N68.
“We currently have 800 feeders that are categorised as Band A feeders, but upon reviewing those feeders’ performance, the commission has now reduced it to under 500.
“This means that 17 per cent now qualify as Band A feeders. Those are the feeders that are currently meeting the average 20 hours average.
“So we have just 17 per cent of the total feeders of the distribution companies now qualify as Band A feeders. That is, when you look at where those feeders are critically, it is estimated that under 15 per cent of customers are currently connected to those feeders.
So based on that, feeders are not meeting the 24-hour supply and have been asked to be downgraded immediately, with strict compliance and strong enforcement action,” he said.
He added that the commission now sets its review for that application by the distribution companies and has decided that only the 17 per cent feeders, that is, the 15 per cent customers, will be affected by any increase that the commission will approve for this distribution company.
“And in that order, the commission has approved a rate review of N225 per kilowatt hour for just under 15 per cent of the customer population.
So that means less than 15 per cent of the customers will be affected. The commission has issued an order which is titled April Supplementary Order taking effect from today,” Mr Oseni said.
