Amid poor electricity supply across the country, the Nigerian Electricity Regulatory Commission (NERC), yesterday announced an increase in the prices of electricity meters by 20.17 per cent and 32.38 per cent respectively.
A circular issued by NERC and dated November 11, 2021, disclosed that the hike in prices takes effect from Monday, November 15, 2021.
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The circular, a copy of which was sighted by Daily Sun with reference number NERC/REG/MAP/GEN/751/2, entitled ‘Review of the unit price of end-use meters under the Meter Asset Provider and National Mass Metering Regulations,’ was addressed to managing directors, all electricity distribution companies and all meter asset providers.
In the circular, NERC increased 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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This was even as it increased the price of a three-phase meter from the current cost of N82,855.19 to a revised rate of N109,684.36.
The Federal Government had in October 2020, commenced the rollout of prepaid meters under the National Mass Metering Programme (NMMP)
The programme is part of Federal Government’s effort to further bridge the country’s metering gap. The metering initiative was designed to ensure a seamless metering process that allows customers to register and be metered on the same day after following due process.
Beneficiaries of the programme, which cut across all the 11 Discos, will not be required to pay upfront for the installation of meters. Rather, the modalities of cost recovery for the meters will be clearly defined and communicated to the beneficiaries.
The primary objective of the National Mass Metering Programme is to increase the metering rate in the country and close the gap of unmetered customers. It is also expected that it will assist in reducing collection losses, while at the same time, increasing financial flows to achieve 100 percent market remittance obligation of the DisCos.
Part of the objectives also include the elimination of arbitrary estimated billing, improving network monitoring capability and provision of data for market administration and investment decision-making.
Apart from its job creation potentials in the meter value chain, the programme will further strengthen the local meter value chain by increasing local meter manufacturing, assembly and deployment capacity, all in support of Nigeria’s economic recovery plan.